[00:00:01]
IT WAS IT WAS ONE OF THOSE OLD LIGHT SWITCHES. GOOD AFTERNOON. THIS IS A SPECIAL. MEETING OF
[CALL TO ORDER]
THE VACAVILLE ECONOMIC AND DEVELOPMENT CORPORATION. WE'D LIKE TO CALL IT TO ORDER. WE WILL BEGIN BY SAYING WE UNFORTUNATELY DO NOT HAVE A QUORUM. SO THIS IS A GATHERING IN WHICH THERE WILL BE NO ACTION TAKEN BECAUSE THERE IS NOT A QUORUM. AND SO. WHAT I WOULD LIKE TO DO IS TO MOVE ITEMS AROUND ON THE AGENDA. CURRENTLY, NUMBER TWO ON THE AGENDA IS GOING TO REMAIN. THE NEXT ITEM ON THE AGENDA AFTER TWO WILL BE WHAT IS CURRENTLY FOR A. AND AFTER THAT. WHAT IS CURRENTLY NUMBER FIVE A AND B WE WILL MOVE TO FOR. AGAIN ALL FOCUSED ON DISCUSSION, NO ACTION TAKEN. AND THEN THE CURRENT THIRD ITEM ON THE AGENDA WILL MOVE DOWN TO FIVE. HOPEFULLY THAT'S CLEAR AS MUD. OKAY SO. MEETING CALL TO ORDER. NEXT ITEM ON THE AGENDA IS THE INVOCATION WHICH I WILL DO, FOLLOWED BY THE PLEDGE OF ALLEGIANCE TO THE AMERICAN FLAG.SO IF YOU WILL PLEASE STAND. WE ARE THANKFUL FOR THIS DAY AND FOR THIS OPPORTUNITY THAT YOU HAVE GRACIOUSLY GRANTED US, DEAR GOD, TO EXERCISE THE RESPONSIBILITY THAT YOU HAVE GIVEN US TO BRING ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT TO THIS CITY. WE LIFT UP EACH AND EVERY RESIDENT OF THE CITY RIGHT NOW, AND ESPECIALLY OUR STAFF, PARTICULARLY THOSE IN PUBLIC SAFETY. WE PRAY THAT YOU WOULD JUST LEAD, GUIDE AND DIRECT US AND HELP US DO EVERYTHING DECENTLY. AND IN ORDER FOR THIS, WE ASK IN THE NAME OF YOUR SON, AMEN. PLEDGE ALLEGIANCE TO THE AMERICAN FLAG. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS. ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL. IT'S QUITE AN HONOR. THE TEXAS FLAG. I PLEDGE ALLEGIANCE TO THEE, TEXAS. ONE STATE UNDER GOD, ONE AND INDIVISIBLE. OKAY. NEXT ITEM ON
[2. DCEDC BUDGET PRESENTATION, BOARD DISCUSSION, AND POSSIBLE MOTION]
THE AGENDA IS THE BUDGET PRESENTATION AND BOARD DISCUSSION. WE WILL RULE OUT THE MOTION BECAUSE WE DO NOT HAVE AN. CITIZENS PUBLIC FORUM. OKAY. SO ITEM NUMBER ONE, CITIZEN'S PUBLIC FORUM, TO SUBMIT A COMMENT VIA EMAIL AND FOR YOUR COMMENTS TO BE REVIEWED BY THE BOARD, THE FOLLOWING INFORMATION IS REQUIRED. SUBMIT A COMMENT BY 4 P.M. ON MONDAY, MAY 5TH, 2025.EMAIL MARCELO PEREZ, DANVILLE, TEXAS.GOV EMAIL TITLE PUBLIC COMMENT MAY 5TH, 2025. YOUR FIRST AND LAST NAME AND ADDRESS. SO STAFF, DO WE HAVE ANYONE SUBMITTED? NO, NOT TO MY KNOWLEDGE. NOT TO YOUR KNOWLEDGE. OKAY, SO NOW. THAT MEANS WE WILL GO TO AGENDA ITEM NUMBER TWO WHICH IS D E D C BUDGET PRESENTATION. AND BOARD DISCUSSION. AND WE WILL TURN IT OVER TO STAFF TO LEAD THAT DISCUSSION. THANK YOU MR. PRESIDENT. OKAY. SO IN YOUR
[00:05:02]
PACKET ONE OF THE THINGS THAT YOU SAW WAS A CHART, RIGHT. IT WAS LABELED. DRAFT FY 2026 BUDGET ALLOCATION SCENARIO. RIGHT. KEY BEING A SCENARIO BECAUSE THE INTENT WAS FOR IT TO STIMULATE DISCUSSION AMONG THE BOARD. RIGHT. ABOUT WHAT ABOUT SOME STRATEGIC DIRECTION AND PRIORITIES THAT WILL THEN INFORM STAFF TO START TO BUILD AND THEN BRING BACK A FUTURE DATE. RIGHT.DRAFT PROPOSED FISCAL YEAR BUDGET. RIGHT. MAIN THING IS, AS WE ON THE NEXT SLIDE SET OF PROCEED, WE'LL TAKE A LOOK BACK AT, YOU KNOW, YEAR TO DATE ACTUALS. WE'LL LOOK AT SOME OF THE GOALS AND BUDGET CATEGORIES FROM PREVIOUS FISCAL YEARS. YOU KNOW AND THEY TELL A CERTAIN STORY. AND SO AS WE MOVE FORWARD WE WANT TO SAY OKAY, IF WE HAD. A BASELINE BUDGET OF $4 MILLION, $4.2 MILLION, WHAT MIGHT BE THE REACTION TO THIS PROPOSED SCENARIO? RIGHT. BECAUSE IT TELLS A CERTAIN STRATEGIC STORY OR PRIORITIES THAT STAFF AND BOARD HAVE BEEN TALKING ABOUT MOVING TOWARDS IN THE FUTURE? RIGHT. SO I WANT TO SET THAT CONTEXT. OKAY. THIS ITEM IS FROM THE CURRENT BUDGET, RIGHT? IT SHOWS JUST A QUICK OUTLINE PROGRAM DESCRIPTION OF SOME OF THE ACTIVITIES THAT DEPARTMENTS INVOLVED IN. IT HAS SOME GOALS FOR THIS CURRENT FISCAL YEAR BUDGET, AS WELL AS SOME ACCOMPLISHMENTS FROM THE PREVIOUS FISCAL YEAR. I EVEN HAVE A PICTURE OF A RIBBON CUTTER. OR AGAIN ALSO FROM THE BUDGET DOCUMENT, RIGHT. FURTHER BREAK DOWN SOME OF THE REVENUE HIGHLIGHTS. AS WE KNOW, OUR ACTIVITIES ARE FUNDED SOLELY FROM OUR PERCENTAGE SHARE OF THE SALES TAX THAT ARE COLLECTED BY THE CITY. RIGHT. AND SO FOR THAT, THIS PAST THIS CURRENT FISCAL YEAR BUDGET, EXCUSE ME, THE FORECASTED SALES TAX REVENUE, $3.2 MILLION, AGAIN, AS OUTLINED IN THE BUDGET DOCUMENT, SOME OF THE EXPENDITURE HIGHLIGHTS THAT'S INCLUDED IN THAT DOCUMENT AS WELL, HIGHLIGHTED HERE. SIGNATURE EVENTS FUNDING THAT TYPE OF ACTIVITY, BUT ALSO BEAUTIFICATION EFFORTS. NOW, WHEN WE SEE A LITTLE MORE DETAIL IN THE BUDGET BREAKDOWN, WE'LL START TO KIND OF SEE A LITTLE BIT MORE LIKE WHAT GOES INTO BEAUTIFICATION. LIKE EXACTLY WHAT IS THAT? RIGHT. BECAUSE, YOU KNOW, JUST SEEING THAT TERM, YOU MIGHT THINK WE JUST PAINTING BEAUTIFYING STRUCTURES. THE DETAIL KIND OF FLESHES OUT A LITTLE BIT MORE OF THOSE STRATEGIC ACTIVITIES. AND THEN THAT LAST GRAPHIC IS JUST SHOWS. WHILE THE OPERATING BUDGET IS MORE THAN THE FORECAST OF REVENUES, WE SEE THAT BOTH IN THE PREVIOUS FISCAL YEAR AND AT LEAST IN THE DRAFT SCENARIO THAT WE PUT IN THE PACKET AS WELL. SO WHILE YOU KNOW THE CITY AS A CORPORATION, THEY HAVE TO ADOPT A BUDGET THAT WHERE THE REVENUES EQUAL THE EXPENDITURES, RIGHT. BUT AS A CORPORATION AND ESPECIALLY CONSIDER OUR FUND BALANCES, WE'LL SEE LATER, AT LEAST IN RECENT PRACTICE, WE HAVEN'T NECESSARILY, YOU KNOW, LIMITED OURSELVES TO ADOPTING OR PROPOSING AND ADOPTING A BUDGET THAT EQUAL TO THE FORECASTED REVENUES. AND I THINK IN PART BECAUSE THE NATURE OF THE SALES TAX IN THIS ENVIRONMENT, RIGHT, WITH SOME OF THE THINGS WE'VE SEEN IN THE LARGER ECONOMY WITH RETAIL AND TAXABLE SALES, WITH E-COMMERCE, WITH JUST THE OVERALL VOLATILITY IN CONVERSATIONS WITH THE BUDGET STAFF, IT'S SOMETHING THAT THEY'RE STILL REALLY TRYING TO FINE TUNE, RIGHT, IN TERMS OF EXACTLY HOW THEY'RE ABLE TO FORECAST THOSE REVENUES. OKAY.
NONETHELESS, THIS IS IN THE BUDGET DOCUMENT THAT I BELIEVE IS IN FRONT OF US, RIGHT. THIS ONE SAYS PROPOSED THE SHEET HERE WE'VE GOT ADOPTED. SO THERE MAY BE SOME DIFFERENCES IN TERMS OF THAT TOTAL AMOUNT. IN FACT THIS ONE IS 4.9 MILLION. THE PROPOSED BUDGET HERE ON THE SCREEN IS 4.8 MILLION. RIGHT. BUT I THINK IT WILL STILL GIVE US THE SAME ILLUSTRATION. WE WANT TO POINT TO CERTAIN CATEGORY ITEMS. QUESTION FOR MR. PRESIDENT OKAY. NOT NOT NECESSARILY A QUESTION PER SE, BUT JUST TO POINT OUT. WHERE WE SEE THIS TERM REVISED. YEAH. THE REASON WHY I WANT TO
[00:10:05]
POINT THAT OUT IS SIMPLY BECAUSE I THINK SEMANTICS AND WORDS ARE VERY IMPORTANT. AND I THINK IN ORDER TO HAVE EFFECTIVE COMMUNICATION, WHAT THE SPEAKER IS SAYING, IF THE HEARER.UNDERSTANDS WHAT THE SPEAKER IS SAYING IN THE SAME LANGUAGE AND TERMS, THAT LEADS TO EFFECTIVE COMMUNICATION. SO WITH THAT BEING SAID, A REVISED YOU CAN'T HAVE A REVISED BUDGET UNLESS THE BOARD, THE POLICYMAKERS REVISE IT. OKAY. AND SO AS FAR AS I KNOW, LOOKING OVER THIS PARTICULAR FISCAL YEAR, WE HAVE NOT COME TOGETHER AS A BOARD TO REVISE THE BUDGET. WHAT A BETTER TERM FOR WHAT THAT PARTICULAR COLUMN NUMBERS, COLUMN OF NUMBERS INDICATES. A BETTER TERM WOULD BE STAFF ESTIMATED STAFF ESTIMATE. IN OTHER WORDS, YES, WE HAVE A BUDGET. NOW THAT WE'VE GONE THROUGH THE FISCAL YEAR, WHAT HAS HAPPENED TO THIS ORGANIZATION FISCALLY THAT WOULD LEAD STAFF TO COME TO THE CONCLUSION THAT WHAT WE BUDGETED, WE'RE NOT GOING TO RECEIVE. SO THAT'S STAFF, ESTIMATED BUDGET. AND THE DIFFERENCE BETWEEN BUDGET AND ACTUAL MAY BE SO GREAT THAT STAFF WILL RECOMMEND TO THE POLICYMAKERS. WE NEED TO PUT AN ITEM ON THE AGENDA TO REVISE THE BUDGET. IF WE TAKE THAT ACTION. YES, WE HAVE REVISED THE BUDGET, BUT IN THIS PARTICULAR FISCAL YEAR, AS FAR AS I KNOW, WE HAVE NOT REVISED THE BUDGET, BUT STAFF IS ESTIMATING AND CAN REFLECT IN THAT COLUMN OF NUMBERS WHAT THEY THINK THE FINAL NUMBERS WOULD BE. THANK YOU, THANK YOU, THANK YOU. MICHAEL. OKAY, SO THAT'S A QUICK SNAPSHOT THOUGH IN DISCUSSION OF THIS. ONE OF THE ITEMS HERE IN THIS FIRST COLUMN UNDER UNDER REVENUE. RIGHT. WE KNOW SALES TAX. RIGHT. THAT'S THE LION'S SHARE OF THE FUNDING. BUT INTEREST. AND WE'LL SEE LATER IN THE SLIDES WHERE WE GOT FROM THE FROM THE BUDGET ADMINISTRATOR.
THE COLLECTION OF INTEREST FROM OUR FUNDS, I THINK WE'D BE HAPPY TO REPORT THAT, THAT THERE IS AN ACCOUNTING FOR THE INTEREST. THE CHALLENGE CONVEYED TO US IS THAT ON THE FRONT SIDE, ACTUALLY PROJECTING WHAT THAT INTEREST IS GOING TO BE IS WHERE THEY'RE STILL TRYING TO SETTLE IN ON METHODOLOGY. BEST PRACTICE OR WAY TO DO THAT, AND THEN CONFIDENTLY PUBLICIZE THAT.
OKAY. YEAH. SO LET ME INTERJECT FOR THE, FOR THE BENEFIT OF, OF THOSE OF US WHO PROBABLY DO NOT KNOW, I SPENT MANY YEARS WORKING IN FINANCES, IN LOCAL GOVERNMENT. AND SO AS A FINANCE DIRECTOR, WHAT MY APPROACH WOULD BE, AND YOU'RE EXACTLY RIGHT, IT'S SO DIFFICULT TO PREDICT ANY NUMBER, LET ALONE THE INTEREST. WHAT I WOULD DO IN THE CASE OF INTEREST IS I WOULD JUST PUT A NUMBER THERE AND IT'S A PLACEHOLDER. SO YEAH, BECAUSE THAT AT THE END OF THE DAY, THE ENTIRE BUDGET IS JUST AN ESTIMATE ANYWAY. THAT'S RIGHT, THAT'S RIGHT. AND WE'LL SEE WHEN AGAIN, WHEN WE LOOK AT THE YEAR TO DATE ACTUALS, EVEN LOOKING BACK LIKE IF WE WANTED TO DO SOME KIND OF TREND ANALYSIS, IT SEEMED LIKE WE COULD MAKE A GOOD. FAITH EFFORT ESTIMATE AGAIN, JUST BASED ON COMING TO HISTORICAL FRAMEWORK. AND SO THAT WAS GOOD THAT WE HAD A CHANCE TO TALK THROUGH WITH HER. AND SO LIKE IT DEFINITELY STANDS OUT. WE KNOW WE HAVE SIX $7 MILLION OF FUND BALANCE. WHY WOULDN'T WE BE EARNING ANY INTEREST ON THAT ACCOUNTING. AND THE ANSWER IS THAT, OH, YOU ABSOLUTELY ARE. BUT IN TERMS OF THIS PARTICULAR PAGE IN THE DOCUMENT, THE REASON IS DISPLAYED AS SUCH IS BECAUSE WE'RE STILL TRYING TO SETTLE ON THE METHODOLOGY OF WHAT TO REPORT AS AN ESTIMATE OR FORECAST. OKAY. LET'S SEE ON THIS SHEET ANOTHER ITEMS I'M GOING TO SKIP DOWN TO THE BOTTOM. THIS IS A BIG NUMBER IN EXCESS OF $700,000 TRANSFERRED TO FUNDS. RIGHT. SO WHAT THAT REPRESENTS IN ADDITION TO WHAT
[00:15:04]
THE ORGANIZATION REFERRED TO AS INDIRECT COSTS. RIGHT. SO AS THE CORPORATION AS A SEPARATE ENTITY AND ITS OWN DEDICATED FUNDING STREAMS, AS A, AS AN ENTITY AND AS A STAFF, WE STILL BENEFIT FROM THE SERVICES, PROPERTY, THE RESOURCES OF THE CITY AS A CORPORATION, SO THAT THAT COST TRANSFER OR APPLICATION OF CHARGE TO THE CORPORATION FOR PROVIDING, YOU KNOW, HUMAN RESOURCES PAYROLLS, MEETING SPACES, ETC, THOSE INDIRECT COSTS. BUT ALSO THAT NUMBER INCLUDES THE DEBT SERVICE FOR THE FIELD HOUSE, AND THAT'S IN EXCESS OF HALF $1 MILLION. AND SO, YOU KNOW, IT HAS TO BE TRANSFERRED FROM ONE FUND TO ANOTHER FUND TO MAKE THAT DEBT SERVICE PAYMENT. SO THERE WAS SOME ADDITIONAL ILLUMINATION GIVEN FOR WHAT THAT LINE ITEM REPRESENTS IN THIS PARTICULAR BUDGET. AND THAT WAS EXCUSE ME, THAT WAS ONE OF THE THAT WAS ONE OF THE QUESTIONS THAT I HAD FOR THE FOR THE BENEFIT OF THE GROUP. I'VE GOT A SET OF QUESTIONS THAT I'M GOING TO PROVIDE THE STAFF. YOU KNOW, AFTER AFTER THIS MEETING IS OVER. BUT I, I DIDN'T I KNOW THIS WAS GOING TO BE A DISCUSSION AND I WANTED TO ALLOW AN OPPORTUNITY FOR EVERYONE TO HAVE AN OPPORTUNITY TO ASK, ASK THEIR QUESTIONS IF THEY HAVE ANY. SO. OKAY, TO THAT POINT, WE'VE GOT BOTH THE SHEET IN FRONT OF US AS WELL AS THE TABLE ON THE SCREEN. ANY ANY ADDITIONAL THOUGHTS? I MEAN, SINCE THIS IS KIND OF LIKE AN INFORMAL DISCUSSION AS OPPOSED TO MEETING WHERE WE'RE TAKING ACTION AROUND THE TABLE BEFORE WE MOVE ON TO THE NEXT SCREEN, I YEAH, THE SALES TAX AND OTHER TAXES THAT WE CHOSE OUR REVENUE.ITEM 51, WE USED TO GET AN EXCEL SPREADSHEET THAT SHOWS HOW OUR HOW OUR SALES TAXES ARE TRACKING MONTH TO MONTH. DID WE GET THAT? OR THAT? THAT ISN'T SOMETHING I KNOW WASN'T INCLUDED IN THE PACKET. THE OTHER QUESTION IS WHETHER WE GET IT HAVING INSIGHT WE GIVE THEM. IF I HAVE TO DOUBLE CHECK ONE OF THE LAST REPORT I PROVIDED YOU, I THINK THE I THINK WE RECEIVED A REPORT FROM THE FINANCE DEPARTMENTS A FEW WEEKS AGO THAT I NEED TO SHARE WITH YOU TO SHOW YOU WHERE WE'RE AT WITH WITH THE SALES TAX FIGURES, BECAUSE I'D LIKE TO SEE WHERE WE'RE GOING ACCORDING TO THIS COMPARISON TO OUR NEIGHBORING CITIES. OKAY. GO AHEAD. I'M SORRY. GO AHEAD. CAN YOU GO BACK TO THE TRANSFER FOR THE FIELD HOUSE? WHAT LINE WAS THAT? SO THIS SHEET RIGHT HERE, THAT WOULD BE 78 TRANSFER, TWO FUNDS. TRANSFER TWO FUNDS. AND. THE NEXT YEAR WOULD BE $0. YEAH, WELL, IT WON'T BE ZERO BECAUSE INCLUDED IN THAT TRANSFER TO FUNDS IS THE DEBT SERVICE IS ALSO THE INDIRECT COST THAT THE CITY HAS. AN ENTITY CHARGES TO THE CORPORATION. RIGHT. SO IF WE LOOK AT MAYBE IF WE LOOKED AT SOME OF THE OTHER FISCAL YEARS. THE OTHER CHARGES ARE SPELLED OUT IN THE BYLAWS AS IT RELATES TO THE AUDITS, THE FINANCING, THE REPORTING, THE REPORTING TO THE COMPTROLLER'S OFFICE, THE USE OF STAFF TIME, ETC. THAT'S LUMPED INTO THERE. BUT MOVING FORWARD, WHAT YOU WILL SEE IS A TRANSFER FOR THAT. BUT YOU SHOULD NOT SEE ANY MORE TRANSFER FOR DEBT SERVICE, SINCE THE DEBT SERVICE IS ALREADY BEEN SATISFIED. RIGHT. SO JUMPING AHEAD. BUT SO THIS IS THE AS OF APRIL, THE JENNIFER SAID THAT THIS IS WHAT'S REPRESENTED. SO IF WE LOOK AT THAT ITEM FOR. SO WE'VE GOT THE TRANSFER TO FIELD HOUSE DEBT. AND THE ENDS CLICKER DOESN'T GO ON THE SCREEN. BUT AT LAST COLUMN IT ENDS. AND THEN BELOW THAT $120,000. RIGHT.
THAT'S THE INDIRECT COST. SECOND LINE. SO FOR FISCAL YEAR 2026, WE SHOULD ONLY ANTICIPATE SEEING THE INDIRECT COST, NOT THE $500,000 OR SO FOR THE DEBT SERVICE. YEAH, WE'VE PAID OFF
[00:20:07]
THE DEBT FOR THAT. SO THEORY AND ONE ONE OF THE REQUESTS I MADE, I MADE GREG AND BOYD. WHEN FINANCE TAKES A SECOND RUN AT THIS IS TO COMPARE NUMBERS IN THE ADOPTED BUDGET COLUMN FOR THE CURRENT YEAR VERSUS THE PROPOSED BUDGET FOR FISCAL YEAR 26. AND ON YOUR SHEET THAT WOULD BE COLUMNS TWO AND FOUR. SO AS I ASKED THAT, THEY GO DOWN EACH AND EVERY NUMBER BETWEEN THOSE TWO COLUMNS. AND IF THERE ARE VARIANCES OF 5% OR MORE TO EXPLAIN WHAT THOSE ARE. SO LIKE IN THE CASE OF THE SO LIKE IN THE CASE OF THE FIELD HOUSE, OKAY, THE WHEN YOU TAKE OUT THAT FIELD HOUSE DEBT, THAT'S WAY MORE THAN THE 5% DECREASE. SO IF FINANCE DOES THE BUDGET IN THE WAY THAT I'VE ASKED, THEN AN EXPLANATION IS GOING TO NEED TO BE PROVIDED IN THE LINE ITEM WHICH CARRIED THE FIELD HOUSE. AN EXPLANATION WILL BE THE FIELD HOUSE DEBT HAS DROPPED OFF FOR THE CURRENT FISCAL YEAR, AND WHAT'S LEFT IS A, B, C, D, WHATEVER. AND HOPEFULLY, HOPEFULLY THAT WILL THAT WILL HELP US TO ANALYZE AND MAYBE EVEN ANSWER SOME QUESTIONS. BUT ANYWAY, I INTERRUPTED YOU. SO I GUESS THE OTHER QUESTION I HAVE IS IF WE HAVE A BEGINNING FUND BALANCE AND WE'RE NOT PLANNING ON USING ALL THAT MONEY, WE SHOULD DESERVE WAYS TO BE MORE STRATEGIC ABOUT INVESTING THAT MONEY. OKAY, ABSOLUTELY. I MEAN, AND AGAIN, AS PART OF THE INTENT FOR THIS DISCUSSION IS IT'S LIKE, OKAY, LET'S SET THE STAGE FOR BRINGING BACK A PROPOSED FIRST DRAFT LATER THIS MONTH. AND HOWEVER MORE TIMES AFTER THAT'S REPRESENTATIVE OF THAT STRATEGIC ALLOCATION, LIKE BEING MORE SPECIFIC WITH HOW WE WANT TO APPROACH THIS FISCAL YEAR BUDGET, NOT NECESSARILY AS OPPOSED TO HOW WE DONE IN THE PAST, BUT REALLY JUST SAYING MORE INTENTIONAL AND STRATEGIC. AND SO, AGAIN, THAT THAT ALLOCATION TABLE WAS WAS NOT INTENDED TO SAY, OKAY, HERE'S A LOOK AT MAYBE HOW WE COULD TAKE SOME OF THE CONVERSATIONS WE'VE BEEN HAVING INFORMALLY ABOUT WHY WE'VE DONE THIS HISTORICALLY OR WHY CAN'T, LIKE YOU SAY, WE'VE GOT THIS SURPLUS FUND BALANCE. ONE OF THE THINGS WE BAKED INTO THAT TABLE WAS THAT'S NOT A PART OF THE ADOPTED BUDGET IS A CONTINGENCY LINE ITEM. RIGHT. AND WHAT THAT WOULD BE, IN THEORY EARMARKED FOR IS, SAY, WE COME ACROSS AN OPPORTUNITY TO ACQUIRE A PIECE OF PROPERTY OR INVEST IN A REALLY HIGH LEVERAGED DEVELOPMENT PROPOSAL, RIGHT. SOMETHING THAT'S GOING TO BRING A BUNCH OF JOBS, SIGNIFICANT CAPITAL INVESTMENT. BUT WE DIDN'T WE DON'T HAVE THE BUDGET AUTHORITY, RIGHT, TO MOVE FORWARD. BUT PERHAPS IF WE HAVE A LINE ITEM FOR THOSE STRATEGIC PURPOSES, WE COME BACK TO THE BOARD, MAYBE EXECUTIVE SESSION, LIKE, HEY, HERE'S WHAT WE HAVE, AND MAYBE HERE'S LINE ITEM WHERE WE CAN GET THE BUDGET AUTHORITY TO MOVE FORWARD. SO GREG, TO PIGGYBACK ON WHAT MARLON HAD JUST SAID. IN TERMS OF INVESTMENT, AND I'LL JUST APPROACH IT FROM THAT PERSPECTIVE IN TERMS OF INVESTMENT, THE CITY OF DUNCANVILLE, LIKE MANY CITIES IN NORTH TEXAS, HAS AN HAS A INVESTMENT POLICY. THAT'S.GUIDED BY THE STATE'S PUBLIC FUNDS INVESTMENT ACT. AND SO, AS I HEARD YOUR QUESTION, HERE'S HERE'S WHAT I UNDERSTOOD. WE HAVE MILLIONS OF DOLLARS JUST KIND OF SITTING THERE. SO HOW CAN HOW CAN WE INVEST THAT MONEY TO GET QUOTE UNQUOTE, MAXIMUM RETURN? WHILE WE WERE WAITING FOR THE HOME RUN THAT MR. GOFF WAS TALKING ABOUT TO COME. SO AS I UNDERSTAND THE CITY'S INVESTMENT POLICY, I THINK THE LONGEST THAT THEY CAN GO OUT ON INVESTMENT IS TWO YEARS. AND SO
[00:25:08]
THAT'S A CONVERSATION I THINK THAT WE SHOULD HAVE AS SOON AS WE GET THROUGH WHAT'S IMMEDIATELY BEFORE US, HAVE A CONVERSATION WITH FINANCE AND HAVE THEM COME IN AND TALK ABOUT THE PUBLIC FUNDS INVESTMENT ACT. AND THEN AFTER WE HAVE AN UNDERSTANDING OF THE CITY'S APPROACH TO IT, THEN SAY, OKAY, WHAT ARE WE AS A BOARD COMFORTABLE WITH IN TERMS OF HOW LONG WE WANT OUR INVESTMENTS TO BE? BECAUSE, OF COURSE, YOU KNOW, THE LONGER THE INVESTMENT, THE MORE RETURN YOU GET. THAT'S THE WAY IT GENERALLY WORKS. BUT WE DON'T WANT TO NECESSARILY HAVE EVERYTHING TIED UP IN SOMETHING LONG TERM AND THEN HAVE TO PULL IT OUT AND GET WHAT I'M SAYING, A THREE MONTH OR A SIX MONTH, SOME SORT OF LADDER THAT YOU COULD SAY WE COULD LADDER SOME OF THIS MONEY OUT. SO IT'S JUST NOT SITTING THERE, ESSENTIALLY NOTHING IN A CHECKING ACCOUNT. AND, AND THAT'S PART OF THE DISCUSSION THAT WE CAN HAVE WITH FINANCE.AND THEN THE OTHER OPTION IS DOES THE CITY HAVE A NEED THAT WE COULD LOAN THEM THE MONEY AND THEN THEY CAN USE IT INSTEAD OF TAKING FUNDS OUT. AND THE CITY AND THE CITY DID THAT BEFORE. IT WAS SOME YEARS AGO. I CAN'T REMEMBER WHAT IT WAS, BUT YOU'RE RIGHT. ONE FUND IT WAS WHEN RICHARD SUMMERLIN WAS FINANCE DIRECTOR IN ONE FUND ALONE. THE GENERAL FUND. SOME MONIES. AND THAT HELPED SAVE THE CITY SOME INTEREST. SO I KNOW IT'S BEEN DONE BEFORE. JUST. YEAH, SIR.
YES, SIR. I HAVE A QUESTION FOR MR. SHELBY, JUST FOR MY UNDERSTANDING. SO THE CITY HAS A ADOPTED AN INVESTMENT POLICY. THOSE ARE FOR THE, AS I UNDERSTAND, FOR THE GENERAL FUNDS, ETC. WHAT A SEPARATE POLICY NEED TO BE CREATED FOR THE CORPORATION, FOR ITS FUNDS AND THROUGH THE BYLAWS. BECAUSE I KNOW THAT IN SOME COMMUNITIES AND SOME THEIR FUNDS ARE SEPARATED OUT INTO SEPARATE ACCOUNTS. SO AS WE'RE GOING THROUGH THESE BYLAWS, AMENDMENTS, DOES IT MAKE ANY SENSE FOR. AND BECAUSE THE QUESTION WAS ASKED, DOES IT MAKE SENSE FOR THE CORPORATION TO SET UP ITS OWN INVESTMENT POLICY? AND IT'S QUITE POSSIBLE THAT MAYBE IT COULD MIRROR BE REALLY CLOSE TO THE CITY'S INVESTMENT POLICY. BUT IS THAT STANDARD PRACTICE? IS IT NECESSARY? IS IT NOT NECESSARY OR. AND I'M SORRY, I'M SORRY, I'M INTERRUPTING. ONE THING I FORGOT TO SAY, IN MY EXPERIENCE AS FINANCE DIRECTOR, WHEN WE CRAFTED THE CITY INVESTMENT POLICY, WE SAID, OKAY, THIS IS HOW LONG WE WANT THE INVESTMENTS. IF IT'S FOR THE CITY, THIS IS HOW LONG WE WANT THE INVESTMENTS. IF IT'S THE EDC, MAYBE WE SHOULD CHECK TO SEE FROM FINANCE IF THE CITY HAS ALREADY PROVIDED GUIDELINES FOR US IN THE CITIES. THE INVESTMENT POLICY. SO AND I'M NOT I'M NOT SAYING I'M AGAINST IT. I'M JUST SAYING, YOU KNOW, THE WORK WE HAVE ALREADY BEEN DONE FOR US. IT'S POSSIBLE THIS IS A UNIQUE SITUATION. YOU CAN'T HAVE YOUR OWN SEPARATE POLICY. YES. I HAVE A QUESTION ABOUT THE TRANSFERS FROM THE EDC TO THE CITY. ARE THOSE. DOCUMENTED AND ITEMIZED LIKE WHAT WE'RE TRANSFERRING FOR? OR IS IT JUST. HEY, WE NEED. YEAH. SO THIS IS. THIS IS THE CURRENT ADOPTED BUDGET. TO DATE SNAPSHOT. RIGHT. AND SO AS OF APRIL, I THINK SHE TOLD ME LIKE MID TO THE END OF APRIL. OKAY. SO IF WE LOOK HERE THE LINE ITEM NON-DEPARTMENTAL TRANSFERS TRANSFER TO THE FIELD HOUSE FOR DEBT. THAT'S THE AMOUNT RIGHT FROM EDC FUND TO FIELD HOUSE I THINK I THINK WHAT THE ATTORNEY IS SAYING, WHAT'S THE UNDERLYING RATIONALE FOR THE AMOUNT THAT'S TRANSFERRED. RIGHT? RIGHT. YES. SO THEY SAY 60,000 FOR USE OF THE BUILDING DEBT SERVICE. IT'S MOSTLY DEBT SERVICE, THAT'S ALL. THAT'S WHAT IT IS. IT'S MY UNDERSTANDING. WOULD YOU SAY THAT'S THE CASE, GREG, THE PAYMENT WE'VE BEEN MAKING TO THE FIELD HOUSE FOR DEBT SERVICE. NO, NOT THE FIELD HOUSE. THE OTHER PAYMENT. OH, THE OTHER PAYMENT IS THE INDIRECT COST, RIGHT? OR IS ITEMIZED, IS WHAT I'M ASKING.
WELL, WHEN WE STARTED OFF TALKING ABOUT IS THE. WE'LL JUST SAY THE, THE UNCLARITY OF HOW
[00:30:01]
THEY ARRIVE AT THAT AMOUNT. LIKE THERE ISN'T A SPECIFIC FORMULA THAT SHE WAS IN A POSITION TO SHARE THAT THEY FOLLOW. IT COULD BE BASED ON A PERCENTAGE OF YOU JUST THROW SOMETHING OUT THERE.HOW MANY POS ARE WE PROCESSING FOR ECONOMIC DEVELOPMENT EMPLOYEES? HOW MANY OF THESE VARIOUS COSTS OF OPERATIONS? RIGHT. THAT NORMAL DEPARTMENT, YOU KNOW, SAY THIS WAS HR, THIS WAS PARKS OR PUBLIC WORKS, WE WOULDN'T HAVE ANY DIRECT COSTS. THEIR OPERATING BUDGET. THIS WOULD COST TO DO BUSINESS. BUT DO YOU SEE, YOU KNOW, AS A SEPARATE ENTITY THAT WE'RE STILL THEY STILL GET THE BENEFIT OF BEING HOUSED HERE IN THE CITY. RIGHT. HERE'S THAT ANSWER SPACE, FOR EXAMPLE. YEAH. SO IT'S WHEN I ASKED HER THAT, YOU KNOW, IT'S LIKE, HEY, HELP ME UNDERSTAND SO THAT I CAN BETTER EXPLAIN, NOT QUESTIONING WHY WE WOULD PAY THIS BECAUSE IT'S COMMONPLACE.
BUT CERTAINLY HOW DO WE ARRIVE AT THAT AMOUNT? RIGHT. SO THAT'S THAT'S NOT SO CLEAR AT THIS POINT. YEAH. THAT WAS MY QUESTION. SORRY. YEAH. INQUIRING MINDS WANT TO KNOW. ANYWAY TO OUR ATTORNEY'S QUESTION, THAT WAS ONE OF THE QUESTIONS THAT I HAD ON MY SHEET, WHICH YOU'LL BE GETTING THEM ON. YEAH, YEAH. GREAT MINDS THINK ALIKE METHODOLOGY. OKAY I DON'T KNOW.
GREAT. WELL WE'RE STILL TRACKING ANY MORE QUESTIONS. AT THE LAST ONE, BUT THROUGH THE, THROUGH THE CURRENT BYLAWS OR THE CURRENT BYLAWS STIPULATE THAT THERE SHOULD BE INVOICES THAT ARE PREPARED AND CHARGED. AND SO THIS WOULD BE AN OPPORTUNITY TO EITHER GO TO THAT PRACTICE OR MAKE CHANGES TO THAT SECTION OF THE BYLAWS, SOMETHING THAT'S. MAYBE MORE PALATABLE, EASIER TO PROCESS. SO WE GET AHEAD OF AND MAYBE NOT GET AHEAD OF THE WRONG WORD. BUT WE HANDLE THESE EXPENSES IN A DIFFERENT MANNER THAN WE'VE BEEN DOING IN THE PAST. SO JUST A DOLLAR AMOUNT TRANSFER THAT IT'S A SPECIFIED AMOUNT WITH PREDICTABILITY AND CHECKS AND BALANCES. AND SO THAT'S SOMETHING THAT WE'LL HAVE TO DISCUSS. WHAT IS THE BEST PRACTICE. BECAUSE THIS RELATIONSHIP IS VERY UNIQUE. OKAY. GREG DID YOU HAVE ANY OTHER QUESTIONS. NO MISS THOMPSON, JUST ONE ITEM. 79 OTHER FINANCING USES. USES. DOES THAT SPEAK TO WHAT WE JUST DISCUSSED AS WELL? WELL, THAT'S SOMETHING COMPLETELY DIFFERENT. IT'S GOING TO BE OUT THERE FROM THE ADMINISTRATION. THESE ARE THE INCENTIVES THE 2.3 USES. YEAH. SO THE 2.9 FALLS UNDER THE CATEGORY OF DEVELOPMENT INCENTIVES. THIS IS THE $2.3 MILLION THAT WE USE FOR GRANTS AS THEY COME IN. BUT ONE OF THE THINGS THAT WE'D LIKE TO DO, AND WE STILL HAVE TO FIGURE OUT, IS THE 2.3 AND THE ENDING BALANCE AND THE ENCUMBERED DOLLAR AMOUNTS CAN BE TRICKY BECAUSE THE ENDING BALANCE, TODAY'S ENDING BALANCE MAY NOT BE REFLECTIVE OF DOLLARS THAT HAVE BEEN ENCUMBERED, THAT ARE OUT THERE THAT WE'RE WAITING TO COLLECT. YOU KNOW, I ALWAYS KIND OF REFER TO IT AS OUR OWN PERSONAL CHECKING ACCOUNT, RIGHT? THE BALANCE ON OUR CHECKING ACCOUNT STATEMENT WILL SAY A CERTAIN DOLLAR AMOUNT, BUT IF THERE THERE ARE DEBTS, DEBTS THAT ARE GOING TO HIT THE ACCOUNT, THAT DOLLAR AMOUNT IN THE ACCOUNT BALANCE IN OUR CHECKING ACCOUNT WON'T NECESSARILY BE INDICATIVE OF HOW MUCH MONEY WE ACTUALLY HAVE, RIGHT? BECAUSE WE HAVE THESE FUNDS. THIS IS, TO SOME DEGREE A SIMILAR SITUATION THAT WE WANT TO BE IN, A SITUATION WHERE THE MONEY, THE MONEY THAT'S IN THERE AND THE ENDING BALANCE IS PRETTY CLOSE. WE HAVE SITUATIONS WHERE THE GRANTS ARE GOING OVER INTO ANOTHER FISCAL YEAR, AND BECAUSE THOSE DOLLARS ARE ENCUMBERED, WHEN YOU LOOK AT WHEN YOU LOOK AT YOUR BUDGET AND YOU SAY, OH, I HAVE $2.3 MILLION TO WORK WITH. YES, THAT'S TRUE, BUT THERE COULD BE POTENTIALLY A HALF $1 MILLION OF PREVIOUS GRANTS THAT HAVE BEEN AWARDED THAT ARE OUT THERE THAT ARE GOING TO COME IN SEEKING REIMBURSEMENT. SO RIGHT OFF THE BAT, IF YOU START OFF THE FISCAL YEAR, YOU COULD BE IN A SITUATION WHERE YOU'RE NOT NECESSARILY WORKING WITH 2.3, YOU'RE WORKING WITH 1.7 OR $1 AMOUNT BECAUSE YOU HAVE THESE DOLLARS, YOU HAVE THESE GRANTS THAT ARE OUT THERE THAT HAVE BEEN AWARDED THAT ARE GOING TO BE COMING IN FOR REIMBURSEMENTS.
SO THAT'S A THAT'S A TRICKY ONE THAT WE HAVE TO WORK THROUGH TO BE ABLE TO TELL A BETTER PICTURE
[00:35:04]
AND TO PROVIDE US WITH BETTER GOALS, BETTER STRATEGIES ABOUT HOW TO AWARD THESE DOLLAR AMOUNTS, BECAUSE YOU HAVE THOSE THAT ARE THAT ARE MOVING OVER. ONE IDEA THAT'S BEEN TOSSED OUT IS JUST REDUCED DEPENDING ON THE DOLLAR AMOUNT FOR THE GRANT. REDUCE THE TIMELINE FOR THE WORK TO BE DONE TO ENSURE THAT THAT MONEY COMES IN DURING THAT FISCAL YEAR SO YOU DON'T HAVE IT CARRYING OVER MULTIPLE FISCAL YEARS OR THE OTHER ONE IS, DEPENDING ON THE TIMING OF THE REQUEST OF THE GRANT, SEE IF IT'S POSSIBLE TO HAVE THAT APPLICANT WAIT UNTIL THE APPROVAL OF THE NEW BUDGET. SO THEN YOU COULD START OUT WITH A FULL 12 MONTHS TO WORK OFF OF.THAT'S A BIT TRICKY, BUT WE HAVE TO WORK KIND OF WORK THROUGH THAT TO REALLY GET A HANDLE ON HOW MUCH MONEY THE BOARD DOES AND DOESN'T HAVE TO WORK WITH FOR THAT FISCAL YEAR. YES. SO YEAH, THAT'S THAT'S A GOOD IDEA. WE WOULD BE ABLE WE WOULD LIKE TO BE ABLE TO DO THAT. BUT HE IS AN EXAMPLE. LET'S SAY THAT WE HAVE AN ENTREPRENEUR THAT COMES IN THAT HAS REALLY GOOD BACKING ON A PARTICULAR ENTERPRISE. AND HE'S TRYING TO DO SOMETHING AND IT'S ALL TIME SENSITIVE. SO LET'S SAY HE PUTS TOGETHER ALL OF HIS PAPERWORK IN AUGUST AND THEN COMES TO US IN SEPTEMBER AND, YOU KNOW, BLOWS US ALL AWAY WITH HIS WITH THEIR PRESENTATION. AND WE SUPPORT IT.
OKAY. AND IT MAY BE WITHIN THE BUDGET FOR THIS FISCAL YEAR, BUT ALL EXPENDITURES ARE NOT ACTUALLY GOING TO HAPPEN UNTIL THE NEXT FISCAL YEAR. SO WHAT'S HAPPENING IS THAT THOSE, AS THOSE EXPENDITURES ARE COMING THROUGH OKAY, IS GOING TO MAKE THE NEXT FISCAL YEAR LIKE IT'S WAY OVER. BUT THE REALITY IS IT'S OVER BECAUSE SOMETHING THAT WAS APPROVED TOWARD THE END OF ONE FISCAL YEAR IS ACTUALLY HAPPENING IN THE NEXT FISCAL YEAR. THAT'S THE TRICKY PART.
BUT CERTAINLY IF A PERSON HAS A GOOD IDEA AND THEY COME TO US IN AUGUST, WE'RE NOT GOING TO TELL THEM, OH, WE JUST CAN'T DO THIS RIGHT NOW. COME BACK IN OCTOBER, MAKE SURE WE HAVE IT ALL IN ONE FISCAL. YOU KNOW, WE'LL FIGURE IT OUT. SIR, IF I MAY, ONE OF THE OTHER THINGS THAT WE DISCUSSED INTERNALLY AT A STAFF LEVEL IS THAT THE CORPORATION HAS A NUMBER OF OTHER TOOLS THAT ARE AVAILABLE AND AT ITS DISPOSAL FOR BUSINESSES THAT THE CORPORATION SHOULD AT NO POINT IN TIME FEEL THAT THE GRANT OPTION IS THE ONLY OPTION FOR THESE BUSINESSES. YOU KNOW, THERE IS YOU COULD DO A SALES TAX SHARING AGREEMENT. YOU COULD DO A PROPERTY TAX ABATEMENT. NOW THOSE ARE TOOLS THAT MAYBE HAVE NOT BEEN USED IN ALL OR SOME PURPOSES, BUT THEY CAN BE. AND THEN MOVING FORWARD, WHAT WE'D LIKE TO DO IS WHEN WE'RE TALKING TO THESE BUSINESSES, FIGURE OUT WHICH MIGHT BE THE BETTER TOOL FOR THEM. SO YOU'RE NOT AUTOMATICALLY HAVING TO GO TO THE INCENTIVE FUND, IF YOU WILL. BECAUSE WHAT WE'RE TRYING TO DO IS UTILIZE ALL THE TOOLS THAT THE CORPORATION HAS AT ITS DISPOSAL TO SPREAD THE WEALTH, TO GET MORE OPPORTUNITY TO GET MORE TO BUSINESSES THAT SOMETIMES THE INCENTIVE TOOL, THE GRANT TOOL, IT'S AN OPPORTUNITY AND IT'S ASSISTANCE. BUT THERE MAY BE OTHER TOOLS IN THE TOOLBOX THAT MAY BE FAR MORE VALUABLE TO THE BUSINESS COMMUNITY AND TO US THAT WE MAY WANT TO USE A BIT MORE THAN MAYBE HAS BEEN USED IN THE PAST TO FREE UP AND KEEP THESE INCENTIVE DOLLARS FOR OTHER PURPOSES. SO YOU'RE BASICALLY FINDING CREATIVE WAYS OF DOING MORE WITH THE TOOLS THAT YOU HAVE. AND SO WE HAVE TO FIGURE THAT OUT AT A STAFF LEVEL, WHAT THAT WOULD LOOK LIKE. BUT THAT'S SOMETHING THAT WE'D LIKE TO BRING FORWARD TO YOU AND SAID, OKAY, HERE ARE THE OTHER TOOLS, BECAUSE THAT'S ONE OF THE DIFFERENCES THAT BETWEEN THE CITY COUNCIL AND THE ECONOMIC DEVELOPMENT CORPORATION IS THAT THERE ARE MORE TOOLS, MORE STRATEGIES THAT ARE AVAILABLE TO CORPORATION THAN ARE WITH CITY COUNCIL. SO WE HAVE TO KIND OF NAVIGATE THROUGH THAT. YEAH.
WHICH IS WHICH IS WHY I SAY WE'LL FIGURE IT OUT. YEAH. A COUPLE OF THINGS, THOUGH, THAT CAME UP, BOTH OF THE DISCUSSIONS ABOUT JUST TIMING OF WHEN PROJECTS MATERIALIZE, YOU KNOW, YOU KNOW, WHAT CRITICAL PATH SCHEDULE THEY MAY BE ON. JUST AGAIN, DEPENDING ON THE NATURE
[00:40:04]
OF THE PROJECT, THE FINANCING, ALL OF THOSE THINGS. BUT BUT ALSO MORE SPECIFICALLY AS IT RELATES TO OUR CURRENT INTERNAL PRACTICES WITH RESPECT TO LIKE DIFFERENT TYPES OF BUSINESS GRANTS, SPONSORSHIPS, REQUESTS FOR DONATIONS. RIGHT. ALSO, SOME INTERNAL DISCUSSIONS AND A LITTLE BIT OF THAT HAS BEEN HIGHLIGHTED IN IN THE PACKET. WHEN WE'RE TALKING ABOUT DRAFT REVISIONS FOR OUR INCENTIVES POLICY. RIGHT. JUST IN TERMS OF STAFF BEING ABLE TO BE MORE EFFICIENT, FACTORING IN THE IMPLICATIONS OF THE FISCAL CALENDAR YEAR AND THE BUDGET, SOME THOUGHT TO CREATING APPLICATION PERIOD, NOT NECESSARILY FOR LIKE VICTOR SAID, THOSE TRULY ECONOMIC DEVELOPMENT, REAL ESTATE DEVELOPMENT, INVESTMENT PROJECTS, BUT FOR THE GRANTS. RIGHT. WHETHER THEY'RE ORGANIZATIONS, WHETHER THEY'RE BUSINESSES THAT THEY, YOU KNOW, LOOKING FOR A GRANT TO HELP, MAYBE OFFSET THE COST OF SIGNAGE BECAUSE THEY SPENT MONEY ON THE BUILD OUT, WHATEVER THE CASE MAY BE, IF WE'RE JUST IF WE JUST HAVE THIS OPEN ENDED APPLICATION PERIOD, FIRST COME, FIRST SERVED BASIS, NOT NECESSARILY ANY CAPS ON WHAT YOU CAN REQUEST. LIKE THOSE ARE SOME OF THE CONVERSATIONS THAT WE'VE BEEN HAVING INTERNALLY AS A STAFF, EVEN SOME OF THE BOARD MEMBERS WE'VE HAD INDIVIDUALLY, ON AND OFF THE RECORD. I THINK AS IT RELATES TO THAT TIMING PIECE, IT JUST TRIGGERED A THOUGHT FOR ME.THAT'S SOMETHING THAT WE'D LIKE TO OFFER FOR DISCUSSION OR CONSIDERATION. TALK ABOUT THE MERITS OF THAT. AND MARCEL IS NOT HERE, BUT HER AND I, SHE, SHE'S HAD A LOT OF TIME AND THOUGHT PUT INTO IT. AND JUST IN THE WEEK OR SO THAT I WAS HERE, SHE'S KIND OF SHARED SOME OF THAT. SO THAT MIGHT BE RIPE FOR SOME OF OUR ONGOING DISCUSSIONS ABOUT, YOU KNOW, OUR INCENTIVE POLICY AND LOOKING FOR WAYS TO BETTER MANAGE THAT. AND WHEN I SAY BETTER, AGAIN, JUST BEING MORE EFFICIENT, RIGHT. MAKING SURE WHEN WE LOOK AT THAT ALLOCATION, DO HOW MUCH ARE WE COMFORTABLE WITH SETTING ASIDE FOR DONATIONS OR SPONSORING? AND WHEN I SAY SPONSORING, WE'LL SAY THE EVENTS THAT AREN'T ALSO SIGNATURE EVENTS FOR THE CITY. LIKE WE KNOW WHAT THOSE ALL ARE.
RIGHT? FOR EXAMPLE, YOU KNOW, ALL OF THE ALL THE EVENTS THAT DEVIN'S QUARTERBACKING, RIGHT.
WHO WOULD YOU SAY THAT THAT'S SIMPLE AND PLAIN LIKE, BUT WE GET A LOT OF REQUESTS FOR EVENTS THAT ARE NOT NECESSARILY OURS, BUT THERE ARE OPPORTUNITIES FOR US TO SUPPORT THE GREATER COMMUNITY. GOOD. MAYBE MARKETING, YOU KNOW, SUPPORTING QUALITY OF LIFE, THINGS THAT ARE STILL, YOU KNOW, WE CAN MAKE THE CASE OR A GOOD INVESTMENT FOR, YOU KNOW, THE COMMUNITY. BUT HOW DO WE APPROACH BETTER APPROACH THAT IN TERMS OF OUR FISCAL CALENDAR? YOU KNOW, OUR GRANT ADMINISTRATION. RIGHT. BECAUSE WE KIND OF CATEGORIZE THOSE DIFFERENT THOSE BEAUTIFICATION ACTIVITIES, THOSE, YOU KNOW, CHARITABLE COMMUNITY SPONSORSHIPS, DIFFERENT THINGS, PROJECTS. ANY THOUGHTS? WELL, I SAY THAT A GOOD BUDGET DISCUSSION IS MORE THAN JUST GIVING THIS SO MUCH MONEY AND GIVING THAT SO MUCH MONEY. IT'S ABOUT A MARSHALING OF EFFORT. IN OTHER WORDS, WHAT IS IT THAT'S GOING ON THAT WE ARE MAYBE NOT DOING THAT WE NEED TO ADDRESS? AND THEN THOSE SORT OF THINGS MAY NOT NECESSARILY REQUIRE REQUIRE MONEY PER SAY. BUT BUT WHAT IT DOES IS IT HELPS US KNOW HOW TO ADDRESS A PARTICULAR PROBLEM. LIKE, YOU KNOW, WHAT DO WE DO WITH DONATIONS? YOU KNOW, WHAT DO WE DO ABOUT THIS MATTER OR THAT MATTER? AND SO THAT HELPS US SET THE FOCUS FOR WHAT WE WANT TO, WHAT PROBLEMS WE WANT TO ADDRESS AND SOLVE MOVING INTO THE NEXT FISCAL YEAR. NO, THAT'S HELPFUL BECAUSE THE DIFFICULTY COMES IN WHEN, YOU KNOW, WE'LL HAVE A LOT OF TIMES, WHETHER IT'S APPLICANTS, COMMUNITY ORGANIZATIONS, CHARITABLE FOR PROFIT OR NOT, RIGHT? IN SEARCH OF FUNDING. AND IF WE DON'T BROADCAST OR
[00:45:05]
ESTABLISH THE TYPES OF INVESTMENTS WE'RE LOOKING TO MAKE, THE TYPES OF INITIATIVES WE'RE LOOKING TO SUPPORT, RIGHT? THE TYPES OF GRANTS WE'RE PREPARED TO MAKE BASED ON THIS WORK PLAN OR FISCAL YEAR. THEN WE'RE TASKED WITH SUBJECTIVELY EVALUATING THE MERITS OF UNSOLICITED REQUESTS FOR FUNDING. RIGHT. THAT THAT'S THE CHALLENGE IS PART OF THE JOB, TOO. BUT I THINK WHAT WOULD HELP ME IF WE COULD POINT TO POLICY, STRATEGIC POLICY PLAN OF THE BOARD, THEN WE CAN, YOU KNOW, CONVEY THAT MESSAGE TO THE APPLICANT. AND IT'S NOT COMING ACROSS AS WE'RE PICKING FAVORITES OR WINNERS. YOU KNOW, WE'RE SAYING IT'S NOT ELIGIBLE OR SHOW ME WHERE IT SAYS THAT, YOU KNOW, EITHER IN YOUR APPLICATION OR IN YOUR POLICY OR YOUR STRATEGIC PLAN. RIGHT. BUT IF WE AND SOMETIMES IT'S NOT SO MUCH THAT IT'S INELIGIBLE. IT'S JUST WE'RE PRIORITIZING THESE TYPES OF ACTIVITIES. THE BUSINESS RETENTION, EXPANSION AND RECRUITMENT, YOU KNOW, PROJECTS OR ASK THAT ARE THAT WE CAN CLEARLY POINT TO, THAT'S GOING TO INCREASE THE ASSESSED VALUE OF THE PROPERTY WHERE YOU'RE OPERATING. IT'S GOING TO GENERATE SALES TAX OR MORE. IT'S GOING TO CREATE JOBS. IT'S GOING TO DO THESE THINGS AS OPPOSED TO, YOU KNOW, SUPPORTING THE COMMUNITY. LIKE WHAT DOES THAT LOOK LIKE? I MEAN, WELL, BUT MAYBE THE PAINT GRANT HELPS REMEDIATE AND OTHERWISE BLIGHTED PROPERTY. AND YOU'RE ALSO MAKING AN INVESTMENT IN THE PROPERTY. WE'RE JUST PARTICIPATING IN THAT INVESTMENT. SEE THOSE THOSE ARE DIFFERENT. BUT SOMETIMES, BELIEVE IT OR NOT, WE GET ASKED THAT THERE IS NO OTHER PARTICIPATION. IT'S JUST CAN YOU FUND OR MAKE THIS CONTRIBUTION, THIS DONATION, THIS GRANT? AND I THINK IT WOULD BE HELPFUL IF, YOU KNOW, WE HAD SOME TYPE OF STRATEGIC DOCUMENT STATEMENTS THAT WE LOOK AT US AS WE WANT TO MAKE INVESTMENTS, THAT'S DIFFERENT MAYBE SOMETIMES THAN WE WANT TO MAKE DONATIONS, SPONSORSHIPS, MAYBE TIED TO EVENTS, BUT NOT WANT TO SPONSOR YOUR OPERATING COSTS OR. YEAH, WELL, WELL, ONE OF THE THINGS THAT I HOPE THAT WE COME AWAY WITH AS AN ORGANIZATION TO THIS EFFORT IS TO COME UP WITH A SET OF GUARDRAILS WITHIN WHICH WE WILL CONSIDER, OUTSIDE OF WHICH, UNFORTUNATELY, WE DON'T HAVE THE RESOURCES TO DO IT. ONE THING I'VE LEARNED ABOUT DOING THE BUDGET, AND THAT IS THE ASK ASSOCIATED WITH A BUDGET, IS LIKE THIS. BUT THE PROVISIONS ASSOCIATED WITH THE BUDGET ARE KIND OF LIKE THAT. SO WE'RE GOING TO HAVE TO MAKE CHOICES. AND HOPEFULLY THE CHOICES THAT WE MAKE WILL WIND UP TO BE THE ONES THAT WILL GIVE US THE GREATEST BANG FOR OUR BUCK. OKAY. SO THIS SCENARIO, I DO WANT TO GET SOME FEEDBACK, BECAUSE THIS ISN'T NECESSARILY A BUDGET DOCUMENT THAT YOU WOULD EXPECT TO SEE IN THE DRAFT, BUT IT'S THOUGHT EXERCISE THAT AGAIN, BASED ON IF WE HAD ANYTHING CLOSE TO THIS ALLOCATION OF ACTIVITIES, IT'S STILL A BUDGET WE'VE SEEN IN THE OTHER DRAFT WHERE IF WE. EXCUSE ME, HAD A BASELINE BUDGET OF $4.2 MILLION, WE KNOW THAT PROJECTION OF REVENUES IS A LITTLE BIT DIFFERENT. WE TALKED ABOUT THAT, HOW THAT'S BEEN OVER THE LAST COUPLE OF FISCAL YEARS. BUT ANY THOUGHTS, ANY THING THAT JUMP OUT. ABSOLUTELY. THAT'S WAY OFF FROM WHAT YOU THINK. AN INDIVIDUALLY COLLECTIVELY AS A BOARD. ARE THE PERCENTAGES CORRECT? OKAY. YEAH. AGAIN, BASED ON IF WE HAVE $4.2 MILLION. RIGHT. AND WE'VE GOT THOSE EIGHT CATEGORIES, THEN THE PERCENTAGES MEANS THE PERCENTAGE OF THAT $4.2 MILLION. THAT'S WHAT'S REPRESENTED OKAY. YEAH. AND I HAD IT DOCUMENTED SOMEWHERE. BUT NOW UNFORTUNATELY IT'S GOTTEN AWAY FROM ME. THOSE CATEGORIES THAT YOU SEE ON THE SCREEN HERE IT IS. I BROKE THEM DOWN INTO THREE CATEGORIES ECONOMIC DEVELOPMENT, COMMUNITY DEVELOPMENT AND ADMINISTRATION.[00:50:02]
AND SO OUT OF THE $4.2 MILLION, 74% IS FOR ECONOMIC DEVELOPMENT, 10% IS FOR COMMUNITY DEVELOPMENT, AND 16% IS FOR ADMINISTRATION. AND THAT IS THE 50 ZERO ZERO ZERO FOOT BREAKDOWN OF THAT SCHEDULE. OKAY. LET'S GO WITH THAT BREAKDOWN. THOUGHTS ASSOCIATED WITH 74% OF OUR BUDGET CONNECTED TO ECONOMIC DEVELOPMENT. AND THEN ANOTHER 10% TO COMMUNITY DEVELOPMENT.BEFORE BEFORE WE DO THAT, IF I MAY LIKE, HOW WOULD YOU DEFINE THE DIFFERENCE BETWEEN ECONOMIC DEVELOPMENT ACTIVITIES AND COMMUNITY DEVELOPMENT ACTIVITIES? WELL, I'D SAY ECONOMIC DEVELOPMENT ACTIVITY WOULD BE SOMETHING LIKE GOING IN THE COMMUNITY TO A BUSINESS AND SEEING HOW THEY'RE DOING AND SEEING IF THERE'S ANY TYPE OF ASSISTANCE IN OUR TOOL KIT OF HELPS THAT WE CAN GET TO THEM. COMMUNITY DEVELOPMENT ACTIVITY, IN MY OPINION. I'M SO GLAD THE NICE YOUNG LADY IS HERE. BUT WHAT SHE DOES, WHAT SHE DOES, IS SHE PUTS TOGETHER PLANS SO THAT WE CAN DO LIKE A 4TH OF JULY FESTIVAL. AND I CALL THAT COMMUNITY DEVELOPMENT BECAUSE THAT'S SOMETHING THAT IS DIRECTED PRIMARILY FOR THE PEOPLE. OKAY. THANK YOU. SO IF SOMEBODY WANTS IF A CITIZEN COMES AND WANTS TO KNOW, WELL, WHAT AM I GETTING OUT OF THIS BUDGET? MY FIRST RESPONSE WOULD BE, WELL, LET'S SEE. LET'S GO DOWN THE LIST. WE GOT CHRISTMAS PARADE, WE GOT JUNETEENTH. WE GOT. MAYFEST. I'M GOING TO CALL IT MAYFEST. I DON'T KNOW WHAT THE NAME OF IT. THE THING WE KEEP POSTPONING BLOOM FEST. I'M SORRY. YEAH, WE GOT 4TH OF JULY AND I'M SURE I'M MISSING 1 OR 2. BUT ANYWAY, THESE THESE ARE THE THINGS THAT ECONOMIC DEVELOPMENT IS PROGRAMING FOR THE COMMUNITY. SIGNATURE EVENTS. FRIEDMAN'S COME OUT. ENJOY. CELEBRATE OKAY.
ANYTHING ELSE? YES. YES. KIND OF. MY COMMENTS ARE THE PERCENTAGES ARE BASED ON YOUR BUDGET. BUT WHAT ARE WHAT ARE WE TRYING TO ACCOMPLISH AND WHERE ARE WE DIRECTING THE MONEY? AND TO ME, THAT'S THE WAY YOU REALLY NEED TO LOOK AT IT. INSTEAD OF SAYING, I'M GOING TO TAKE SO MUCH OF MY BUDGET AND USE IT, THIS BASED ON THESE NUMBERS. SO I'M KIND OF CHALLENGED WITH THAT CHART. THE OTHER THING IS I'M CHALLENGED WITH IS THAT WE'RE GETTING DOLLARS TRANSFERRED IN FROM OTHER ACCOUNTS FROM THE CITY TO SUPPORT STAFF AND ADMINISTRATION, THINGS WHICH ARE NOT NOT PART OF OUR EDC BUDGET, WHICH TO ME, WE SHOULD BE FOCUSED MORE ON THE DOLLARS THAT WE CONTROL, WHICH ARE THOSE TAX DOLLARS, NOT DOLLARS THAT COME IN FROM ANOTHER AVENUE. SO, OKAY, ALSO, THE LAST PERSON, THE LAST POINT FIRST. AND THEN WE CAN TALK ABOUT THAT IF YOU HAVE STAFF THAT IS BEING SPONSORED FROM THE GENERAL FUND FOR SOME ACCOUNT FROM THE CITY, AND THAT THOSE DOLLARS ARE JOURNALED OVER, THOSE ARE NOT DOLLARS THAT ARE COMING OUT OF OUR SALES TAX REVENUE. THOSE WOULD BE OTHER FUNDS TRANSFERRED IN FUNDS. SO TO ME, WE SHOULD BE FOCUSING IN ON HOW OUR HOW OUR SALES TAX DOLLARS ARE BEING USED MINUS THOSE TRANSFERRED IN DOLLARS, BECAUSE WE REALLY DON'T HAVE A SAY OVER HOW THE CITY MANAGER WISHES TO JOURNAL THOSE DOLLARS AND, AND SET THOSE FUNDS UP. AND I MAY BE CONFUSED, BUT I DON'T I DON'T THINK THEY'RE THERE. I THINK WE'RE TRANSFERRING OUT. I THOUGHT WE WERE TRANSFERRING SOME FUNDS. YEAH. SO WHEN YOU SAY TRANSFER ME, YOU'RE SAYING WE'RE RECEIVING OTHER REVENUE TRANSFER GENERAL FUNDS? NO, BECAUSE I THOUGHT WHEN MR. FINCH WAS HERE, HE WAS TALKING ABOUT THE FACT THAT THAT THERE WAS REALLOCATION OF DOLLARS AND TO TRY TO STREAMLINE SOME OF THE OPERATIONS, THAT THOSE DOLLARS
[00:55:04]
WOULD BE COMING IN FROM HERE AS A AS A JOURNAL. YEAH. HERE, HERE IN THIS DOCUMENT. IT DOES SAY.IN THIS YEAR'S BUDGET TRANSFERS FROM OTHER FUNDS IS 41490. THAT'S WHAT YOU THOSE ARE DOLLARS THAT I'M NOT QUITE SURE WHERE THEY'RE COMING FROM BUT OKAY. NOT THAT IT'S A HUGE AMOUNT, BUT IT'S AN AMOUNT THAT IF THEY ARE GENERAL FUND DOLLARS THAT ARE GOING TO OFFSET STAFF LABOR COSTS, WE HAVE NO CONTROL OVER THAT. SO TO ME, I'D LIKE TO FOCUS THAT. WE'RE DRILLING IN MORE ON THE DOLLARS THAT WE CONTROL. AND THEN IF WE SUPPLEMENT, SAY, WE MATCH WHAT THE CITY PROVIDES OUT OF OUR FUNDS, THEN THOSE ARE DOLLARS THAT WE CAN CONTROL THE MATCH.
SO IF WE WERE TO TAKE A POSITION AND MATCH HALF OF THE POSITION, CITY PAYS HALF, WE PAY HALF.
THEN YEAH, WE HAVE CONTROL OVER OUR HALF, NOT THE CITY'S HALF. OKAY. DOES THAT MAKE SENSE? THAT MAKES SENSE. QUESTION. ONE OF THE QUESTIONS I HAVE IS ON A LINE ITEM LIKE THAT WAS WHAT'S THE DETAIL? YOU KNOW WHAT WHAT WHAT DOES WHAT DOES THAT REPRESENT IN TERMS OF INITIATIVE AND DOLLARS. BECAUSE IT'S PROBABLY THAT SIZE. THAT AMOUNT OF MONEY IS NOT COMING TO FROM ONE FUND. SO THE POINT THAT I'M MAKING, PERHAPS WE NEED TO GET WITH FINANCE AND HAVE THEM EXPLAIN WHAT THAT IS. AND THEN KNOWING WHAT THAT IS, WE'LL BE IN A BETTER POSITION THAN DO WE NEED TO DO SOMETHING ABOUT IT. AND IF I'M INCORRECT, THEN, THEN FINE. I MEAN, I JUST DON'T I JUST DON'T KNOW HOW THE FUNDS ARE TO HER LEVEL. THE FINANCE DIRECTOR'S LEVEL, HOW SHE GETS DOWN INTO THE T ACCOUNT STUFF AND MOVING THE DOLLARS AROUND. SO WHAT WE'D LIKE TO DO IS WE'D LIKE TO GET ALL THE QUESTIONS ARE YOU HAVE A YOU HAVE A HANDFUL OF QUESTIONS YOU'RE GOING TO BE PROVIDING US. YOU HAVE A QUESTION THAT'S COME UP HERE REGARDING THAT TRANSFER FUNDS. WHAT WE'D LIKE TO DO IS GET THE ANSWERS TO ALL THOSE QUESTIONS AND SEND IT OUT TO THE ENTIRE TO THE ENTIRE BOARD, HAVE THEM WORK WITH. I ALWAYS LIKE TO HAVE THE ENTIRE BOARD WORK WITH THE SAME INFORMATION, EVEN IF THEY WEREN'T HERE AT THE CONCLUSION OF THIS OF THIS MEETING, I WILL SEND THE RECORDING FOR THOSE THAT WEREN'T ABLE TO ATTEND TO SEE WHAT WAS DISCUSSED, THE QUESTIONS THAT WERE ASKED. THIS EVENING WE WENT INTO DISCUSSING SPECIFIC LIGHT LINE ITEMS, SPECIFIC TRANSFERS, ETC. BUT REALLY, FOR ME, THIS WAS AN OPPORTUNITY TO PRESENT STAFF'S IDEA OF WHAT DIFFERENT WOULD LOOK LIKE AS IT RELATES TO THE GRANT STRUCTURE AND HOW AND WHERE WE SPEND OUR EFFORTS. YOU KNOW, IT WAS AN OPPORTUNITY BASED ON THE DIRECTIVE THAT WE RECEIVED A FEW WEEKS AGO ABOUT DOING SOMETHING DIFFERENT AND TAKING THAT THREE YEAR SNAPSHOT OF WHAT THE LAST THREE YEARS HAVE LOOKED LIKE AS FAR AS GRANT AWARDS AND EVERYTHING. AND WHAT WE HEARD WAS SHOW US SOMETHING DIFFERENT AND WHAT DIFFERENT LOOKS LIKE. SO THIS IS OUR FIRST ATTEMPT TO SHARE WITH YOU WHAT THAT DIFFERENT WOULD LOOK LIKE, SPECIFICALLY INCREASING OUR EFFORTS TOWARDS BUSINESS ATTRACTION, BUSINESS RETENTION AND REDUCING SOME OF THE DOLLAR AMOUNT FOR THE OTHER TYPE OF REQUEST. AND SO WHAT WE HAVE HERE IS A PROPOSAL OF WHAT THAT WOULD LOOK LIKE. AND WE'RE USING THIS AS A AS AN OPPORTUNITY TO SOLICIT THE FEEDBACK AND SAY, HEY, DO YOU LIKE THIS. WHERE CAN WE MAKE ADJUSTMENTS? YOU KNOW, BECAUSE WE THINK THAT THE BOARD'S BEST TIME AND MAYBE BEST BANG FOR THE BUCK RETURN ON INVESTMENT IS GEARED TOWARDS BUSINESS ATTRACTION, BUSINESS RETENTION ACTIVITIES. WE CAN STILL PARTICIPATE WITH SIGNAGE, WITH LANDSCAPING, BUT THOSE DOLLAR AMOUNTS WOULD BE LESS BECAUSE WE'RE GOING TO BE FOCUSING A GOOD PORTION OF THE DOLLARS THAT ARE AVAILABLE TO US, WHATEVER THOSE DOLLARS ARE, TOWARDS MAINTAINING JOBS, ATTRACTING JOBS, GENERATING REVENUE. AND WE WANT TO COME TO AN AGREEMENT THAT IT SHOULD BE A LARGER PERCENTAGE OF THE AVAILABLE, AVAILABLE DOLLARS EVERY YEAR MOVING FORWARD, WHATEVER THAT DOLLAR AMOUNT IS. BUT WE CAN COME TO AN AGREEMENT THAT THE PERCENTAGE SHOULD BE HIGHER. AND THIS ALSO SETS THE STAGE FOR, YOU KNOW, FOR THE
[01:00:02]
GRANTS AND DOING SOMETHING DIFFERENT. AT THE LAST MEETING WE PRESENTED AND SEEN AN AMENDMENT TO THE ECONOMIC INCENTIVE, AND THERE WAS CONVERSATIONS ABOUT CLAWBACK AND GUARANTEES AND RETURN ON INVESTMENT. AND, YOU KNOW, ALL OF THAT THAT MOVING FORWARD THAT WE WOULD CHANGE THE GRANT STRUCTURE TO HAVE THAT IN PLACE. THERE'S BEEN IDEAS TOSSED AROUND ABOUT PARTICIPATING WITH SIGNAGE, BUT MAYBE ONLY PARTICIPATING WITH HALF THE SIGNAGE COST, NOT THE FULL 100% COST. AND AGAIN, JUST LAYING THIS OUT A LITTLE DIFFERENT. BUT THIS IS WHERE I SAY IT ALL COMES TOGETHER. WHAT WE'VE BEEN TALKING ABOUT THE LAST FEW MONTHS, ABOUT MAKING CHANGES TO THE INCENTIVE POLICY, MAKING CHANGES TO THE GRANT STRUCTURE, AND THIS ALL KIND OF ALSO ROLLS INTO THE PROCUREMENT POLICY AND THE BYLAWS. IT'S ALL COMING TOGETHER. AND THIS IS WHY IT MAKES SENSE. AND THE OTHER PART OF IT IS THAT WE'RE ALSO DOING THE COMPREHENSIVE PLAN. AND THIS EVENING, THE COMPREHENSIVE PLAN STEERING COMMITTEE HAS A MEETING AT THE CO-LAB SPACE WHERE THEY'RE TALKING ABOUT A DRAFT OF THE OF THE STRATEGIES IMPLEMENTATION MATRIX AND WHO'S RESPONSIBLE FOR THE SEVERAL ITEMS THAT THAT ARE LAID OUT IN THIS STRATEGY, AND HOW THE STRATEGIES IN THERE WILL LAY THE GROUNDWORK FOR THE WORK PLAN FOR THE VARIOUS BOARDS AND COMMISSIONS AND THE STRATEGIC PLAN FOR STAFF AND THE BOARDS AND COMMISSIONS. SO THEY'RE ALL IN ALIGNMENT. SO I AGREE WITH YOU. AND THAT'S WHAT I SAID A FEW MINUTES AGO IN TERMS OF WHERE WILL WE PUT OUR ENERGY AND EFFORT AS AN ORGANIZATION.THAT'S ANOTHER WAY OF SAYING WORK PLAN. SO THEN WHEN WE FINISH THIS PROCESS THIS PARTICULAR YEAR, WE SHOULD HAVE A WORK PLAN, INCLUDING SOME OF THE ITEMS THAT YOU JUST MENTIONED. AND SO THAT'S I BELIEVE THAT WE'RE ALL SEEING THE SAME THING. WE JUST NEED THE TIME, WHICH IS WHY I THINK THIS IS GOING TO TAKE ANOTHER MEETING. THIS WAS THE FIRST PART. AND THE OTHER PART IS TO GET IT DONE. YES, YES. AND BECAUSE IT REQUIRES MORE TIME, THIS IS WHY WE NEED TO TAKE ANOTHER LOOK AT WHEN WE HAVE THE BUDGET DISCUSSIONS NEXT YEAR, AND WHEN WE HAVE THE JOINT MEETING WITH CITY COUNCIL TO LAY THAT OUT. BECAUSE AGAIN, THIS ALL COMES BACK TO HOW IT'S ALL RELATED TO THE BYLAWS AND THE DATES AND THE MEETINGS, THE QUARTERLY MEETINGS, THE SCHEDULING OF THE INVOICES. THIS IS HOW NOW IT'S ALL COMING TOGETHER. OKAY. YEAH. WE'LL GO BACK HERE. GREG. SO THE FIRST PART OF WHAT YOU SAID IS LOOKING AT THAT ALLOCATION SCENARIO IS DIFFICULT IF YOU DON'T HAVE GOAL STATEMENT PRIORITY, WHAT ARE WE TRYING TO DO? SO ONE OF THE FIRST GRAPHICS WE LOOKED AT WAS THE CURRENT BUDGET. RIGHT. AND IT STATES WHAT THE GOALS ARE FOR THIS FISCAL YEAR. RIGHT. SO THAT WOULD BE AN EXAMPLE OF HOW THOSE STATEMENTS OR BULLET POINTS WOULD BE TIED TO THAT ALLOCATION TABLE. I DIDN'T WANT TO GO IN AND WRITE OUT WHAT THE GOALS WERE. I WANTED TO WORK BACKWARDS, SAY THIS. THIS IS WHAT IT COULD LOOK LIKE IF WE JUST TAKE THE CONVERSATION THAT SOME OF THE THINGS THAT WE'VE BEEN TALKING ABOUT INTERNALLY AS A STAFF, INFORMALLY AMONG THIS BOARD AND THIS GROUP, HERE'S MAYBE HOW THIS COULD LOOK, COULD LOOK, GET YOUR REACTION TO IT. AND THEN WHAT DOES THAT TELL US? SO THIS IS ESSENTIALLY WHAT WE'D BE WORKING TOWARDS. YOU KNOW, 5 OR 6 BULLET POINTS. THAT SPELLS OUT THE PRIORITIES FOR THIS FISCAL YEAR. IT COULD BE SOMETHING THAT WE'RE LOOKING TO DO, LIKE WHAT WE'RE VICTOR SAID. MOVING FORWARD, THIS IS THE DIRECTION OF WHAT THIS BOARD WANTS TO SAY. YOU KNOW, MOVE IN TERMS OF ITS STRATEGIC FOCUS, YOU KNOW, IS THAT GOAL. I MEAN, I THINK OUR GOALS ARE GOING TO CHANGE EVEN THOUGH WE PUT THESE UP HERE, BECAUSE AS THE. CAPITAL INVESTMENT PLAN AND THE COMP PLAN COME TOGETHER AND THOSE TYPE OF THINGS START COMING OUT TO US, IT COULD IMPACT OUR GOALS. BUT I TOTALLY, COMPLETELY AGREE. SO THIS IS A STARTING POINT. YEAH. BECAUSE YOU ALWAYS GOT TO START SOMEWHERE. SO WHEN WE START WITH THIS AND THEN YOU'RE RIGHT, YOU'RE ALWAYS LOOKING AT IT TO MAKE SURE THAT IT'S RELEVANT TO WHERE THIS CITY IS AND WHERE IT'S GOING. BUT THIS IS A STARTING POINT. AND EVEN WITH THIS, I MEAN, IF WE'RE GOING TO HAVE GOALS THAT WE'RE GOING TO SHOOT FOR, WHETHER IT'S A STAFF GENERATED GOAL OR BOARD
[01:05:11]
GENERATED GOAL, OKAY, IT NEEDS TO AT LEAST ANTICIPATE WHEN IT'S GOING TO BE DONE. OKAY. SO LIKE FOR IN OTHER WORDS, I JUST THROW SOMETHING OUT THERE. WE'RE WE'RE GOING TO REVIEW THE BYLAWS OKAY.WE'LL HAVE THE BYLAWS REVIEWED BY FEBRUARY 2026. TOTALLY HYPOTHETICAL. BUT THIS IS THE END THAT I'M ENVISIONING. YEAH. AND IT'S DIFFERENT FROM THAT. THAT'S A GOOD STARTING POINT.
BUT YOU CAN PUT SOME MEAT ON THOSE BONES. YEAH, YEAH. SO BACK TO OUR AGAIN WITHOUT HAVING THOSE MORE FLESHED OUT GOAL STATEMENTS FOR THE FIRST PAGE OF THE DOCUMENT. ANY, ANY AGAIN, ANY, ANY INITIAL REACTION TO THINGS THAT JUST SEEM OFF, THINGS THAT ARE CLOSE TO BEING ON TARGET IN TERMS OF IF WE WERE ALLOCATING CATEGORICALLY WHAT OUR OPERATING BUDGETS WOULD LOOK LIKE SO THAT WE KNOW HOW FAR OFF EITHER DIRECTION WE ARE. JUST WITH THIS FIRST SCENARIO. I WHAT I WOULD ADD WITH THAT IS JUST. SOME BULLET POINTS THAT SPECIFICALLY SAY IN THIS AREA, THIS IS WHAT WE'RE GOING TO DO, RIGHT? AND PART OF THIS MIGHT BE THE THING THAT YOU ALL WERE TALKING ABOUT EARLIER IN TERMS OF REVAMPING THE GRANT GUIDELINES, BECAUSE, I MEAN, THAT THAT'S AN INITIATIVE THAT SPEAKS DIRECTLY TO NUMBER ONE. SO SOME OF THEM, SOME OF THE BULLET POINTS COULD BE FINANCIAL. SOME OF THEM COULD JUST BE OPERATIONAL. YEAH, I'LL SAY WITHOUT HAVING THE DETAIL IN FRONT OF US, WE MADE MORE THAN 55,000. THIS BOARD AWARDED MORE THAN $55,000 IN COMMUNITY SPONSORSHIPS. I WOULD SAY EACH OF THEM, PROBABLY EACH OF THE LAST COUPLE FISCAL YEARS. YOU SAY THAT. SAFE TO SAY THAT MUCH? I'M SAYING THAT WE THIS BOARD'S PROBABLY AWARDED MORE THAN $55,000 IN SPONSORSHIPS, DONATIONS. RIGHT. SO ANY THOUGHTS TO THE IMPACT? MAYBE. I MEAN, I KNOW WHAT IT MEANS FOR THIS BUDGET. THAT MEANS IT'S MORE AVAILABLE FOR OTHER STRATEGIC ACTIVITIES. BUT WITH RESPECT TO THE MOTIVE BEHIND HISTORICALLY FEELING THE NEED, FEELING COMPELLED STILL TO MAKE THOSE CHARITABLE DONATIONS OR SPONSORSHIPS OF EVENTS IN THIS, IF WE WERE TO SAY, YEAH, MOVE FORWARD WITH THAT AMOUNT FOR THAT CATEGORY, THEN UNDERSTAND IT. I DON'T THINK WE CAN DO THAT UNTIL WE SEE WHAT THAT IS. AND WHEN I SAY SEE WHAT THAT IS, YOU KNOW, WHAT DO WE SPEND $55,000 ON, ON BOARD A, B, C, D GRANTS THAT WE'VE AWARDED FOR THAT. CORRECT. AND AFTER WE DO THAT WE MAY SAY, HEY, WE DID GOOD. LET'S DO IT AGAIN. YEAH. OKAY. SO BUT I COULDN'T ANSWER. YEAH. HOMICIDE. OKAY. WELL I GUESS JUST UNDER YOUR REAL ESTATE, THE STRATEGIC PROPERTY ACQUISITION. AND I THINK ONE THING THAT'S MISSING IN THERE, AND I THINK IT WOULD GO IN THIS LINE, IS THE PROMOTION OF PROPERTIES THAT ARE AVAILABLE TO THAT THE CITY OR THE EDC OWNS SPECIFICALLY. I'VE BEEN TALKING ABOUT THAT SINCE GUS WAS HERE, THAT DEVELOPERS HAVE A HARD TIME FINDING PROPERTIES THAT THE CITY MAY OWN THAT ARE AVAILABLE, WHEREAS IF YOU GO TO A REAL ESTATE COMMERCIAL REAL ESTATE WEBSITE, AVAILABLE PROPERTIES THAT ARE LISTED WITH A BROKER ARE AVAILABLE. BUT OUR PROPERTIES THAT WE MAY SAY, HEY, THIS IS OPEN IF YOU WANT TO DISCUSS ABOUT IT. TO ME, IT FALLS UNDER
[01:10:01]
NUMBER FOUR. YOU KNOW, OR REAL ESTATE ACQUISITION EQUITY INVESTMENTS IS, YOU KNOW, HOW DO WE GET RID OF THAT THOSE PROPERTIES AND HOPEFULLY MAKE. SO IF YOU LOOK AT SORRY LOOK AT IF YOU LOOK AT ITEM NUMBER TWO, DO WE HAVE AS PART OF THAT LINE ITEM OUR WEBSITE OVERHAUL. RIGHT NOW OUR WEBSITE IS TIED TO THE CITY'S WEBSITE, JUST LIKE AS A SEPARATE LANDING PAGE. AND YOU NAVIGATE THROUGH THERE. SOME OF OUR OTHER FELLOW EDC'S IN THE SOUTHWEST REGION SEPARATE DEDICATED WEBSITE WHERE YOU CAN LINK DIRECTLY TO OUR COSTAR, OUR LOOPNET ACCOUNT, OR AND OR THE PROPERTIES THAT ARE PART OF OUR CURRENT INVENTORY OF, SAY, LAND BANK OR PROPERTIES THAT HAVE STRUCTURES ON THEM. RIGHT? SO I WOULD SAY WITH YOU ON THAT, LIKE THERE'S SOME ALIGNMENT WITH THE STAFF THAT THAT WILL BE A FEATURE OF OUR NEW WEBSITE. AND I WOULD ONLY SAY IT'S BUDGETED UNDER THAT STRATEGIC MARKETING LINE ITEM AS OPPOSED TO UNDER STRATEGIC ACQUISITION, BECAUSE THAT WAS INTENDED FOR THAT IS, AGAIN, OVER THE PAST, WE'LL SAY THE PAST COUPLE OF CALENDAR YEARS, SOME OF THE PROPERTIES THAT WE'VE HAD AN OPPORTUNITY TO ACQUIRE AND SOME THAT WE DIDN'T DO DUE DILIGENCE AND MAYBE WON'T ACQUIRE. BUT BEING IN A POSITION TO ACT ON THOSE OPPORTUNITIES, EXCUSE ME. OPPORTUNITIES IS WHAT THAT LINE ITEM IS. AND HERE'S THE THING TOO, GREG. IT MAY BE A SITUATION DEPENDING ON THE SPECIFICS OF THAT PROPERTY, WHERE THIS IS SHOWING UP AS CASH THAT WE HAVE AVAILABLE UNDER THE BUDGET. BUT WE MAY HAVE A CONVERSATION IN THE FUTURE ABOUT, DO WE WANT TO USE CASH TO JUST PURCHASE, OR WOULD IT MAKE SENSE FOR US TO HAVE A LINE OF CREDIT? RIGHT. AGAIN, DEPENDING ON THE PROPERTY, BUT WHERE WE GET IT UNDER CONTROL, RIGHT THROUGH WHAT WE NEED TO DO? AND AGAIN, IT'S NOT UNCOMMON FOR INVESTORS OR COMMERCIAL DEVELOPMENT PROJECTS TO NOT USE CASH TO BUY THE PROPERTY. RIGHT. MAYBE WE WANT TO WITHHOLD SOME OF THE CASH FOR MAYBE DUE DILIGENCE, GAP FINANCING, ETC. BUT YEAH, WE CAN GO OUT. WE'VE GOT CREDIT WORTHINESS OR FUND BALANCE TO SUPPORT. SO AGAIN IT'S CREATING SOME FLEXIBILITY FOR US TO BE STRATEGIC. RIGHT. WITHOUT ACTUALLY JUST SAYING THAT, YOU KNOW, WE THEN WE ALSO HAVE THE RESOURCES AND BUDGET AUTHORITY TO DO IT. THAT'S WHAT THAT LINE OF THIS FOR. AND IT HAS IT'S SOMETHING THAT WE'VE HAD HISTORICALLY. IT'S JUST BEEN ALL ROLLED UP INTO, YOU KNOW, INCENTIVE GRANTS AND WHATNOT. SO IF I UNDERSTAND YOU CORRECTLY, AT THE END OF THIS PROCESS, WHEN WE'RE DONE, WE WILL HAVE A WORK PLAN ITEM THAT SAYS THREE. REJUVENATE, REDO THE. WEBSITE, AND IT WILL BE DONE BY DECEMBER, JANUARY, FEBRUARY. YES. THANKS. AND I'M SORRY, I HAVE ANOTHER QUESTION. I JUST CAN'T REMEMBER IT. DO WE HAVE A BALANCE SHEET? IN THE CORPORATION? WE HAVE A BALANCE SHEET. THE CORPORATION'S THE CORPORATION'S LAST BALANCE SHEET WOULD BE IN ITS COMPREHENSIVE ANNUAL FINANCIAL REPORT, WHICH WAS 22. NO. WE'VE HAD AN AUDIT SINCE THEN. IT'S 2.FISCAL YEAR END 24 IS AUDITED. IT'S DONE. THAT'S WHAT THE BALANCE SHEET IS. AND IT'S AND IT'S AS OF SEPTEMBER 30TH, 2024. SO OUR PROPERTIES SHOULD BE IN THERE. YOU KNOW, THAT IS THAT IS THAT IS A GOOD THAT IS A GOOD QUESTION. YEAH. LOOK IT UP. LOOK IT UP TO.
GET A GOOD BUDGET DISCUSSION THERE. SEE WHAT A GOOD BUDGET DISCUSSION DOES.
SO I GUESS THE NEXT STEP FROM HERE IS TO. THAT'D BE LIKE A HOMEWORK ASSIGNMENT THAT WE'LL
[01:15:04]
TAKE IT AND SAY OKAY. LET'S LET'S GET SOME BULLET POINTS AS TO IN THIS CATEGORY AS PART OF THE WORK PLAN, OKAY. AND GO ALL THE WAY DOWN. AND AS IT RELATES SPECIFICALLY, THOUGH TO ITEM NUMBER THREE. SO KIND OF WHAT WE SAY MAYBE OUR. BUDGET THAT ACTUALS OR THE AMOUNT OF AWARDS WE MADE FOR THAT PARTICULAR CATEGORY AS A TOOL TO HELP EVALUATE WHAT'S BEING PROPOSED MOVING FORWARD. OKAY. THANK YOU. EXACTLY. OKAY. SO I HAVE ANYTHING ELSE. WE MOVE THAT ITEM. THIS WOULD BE NEXT IF THERE IS ANYTHING FURTHER YOU. YEAH. IS THERE ANYTHING FURTHER WE NEED TO TALK ABOUT IN TERMS OF THE BUDGET OKAY. ALL RIGHT. SO THEN THAT TAKES US TO THE NEXT ITEM ON THE AGENDA WHICH IS A PUBLIC HEARING. YEAH. THERE WE NO DISCUSSION. COULD WE DISCUSS THE MATTER. WE CAN'T DISCUSS THE MATTER. WE'RE NOT HAVING A PUBLIC WE'RE NOT GOING TO TAKE ANY ACTION. SO WE JUST WE CAN DISCUSS IT, BUT WE CAN'T TAKE ACTION. WE JUST WANT TO HOLD OFF. WELL, I GUESS I'D BE STRONG. YES. YEAH. OKAY. WE CAN TALK ABOUT THAT BECAUSE. BECAUSE[4.a. CONDUCT A PUBLIC HEARING TO DISCUSS AND CONSIDER APPROVAL OF RESOLUTION 2025-5-18 APPROVING A SPONSORSHIP FOR STRONG TOWNS NATIONAL GATHERING IN THE AMOUNT OF $5,000.00 AND AUTHORIZE THE PRESIDENT TO EXECUTE NECESSARY DOCUMENTS.]
EVERYBODY DOESN'T KNOW. RIGHT. YEAH. SO STRONG TOWNS IS AN ORGANIZATION THAT PROVIDES SERVICES AS A RESOURCE TO MANY URBAN PLANNERS, MANY PROFESSIONALS IN IMPROVING THE QUALITY OF LIFE OF THEIR COMMUNITIES WITH VERY STRATEGIC PROJECTS, WITH VERY STRATEGIC METHODS OF COMMUNITY ENHANCEMENT, QUALITY OF LIFE, ETC. AND SO WHAT I HAVE UP HERE ARE JUST SOME OF THE VALUES THAT THEY LIVE OFF OF IN WHAT THEIR KNOWN FOR. THIS ORGANIZATION.JUST TO KIND OF POINT OUT THEIR REACH, THIS IS THE TYPE OF REACH THAT THEY HAVE IN TERMS OF ANNUAL WEBSITES, EMAILS, SUBSCRIBERS, YOUTUBE SUBSCRIBERS, FACEBOOK, FACEBOOK FOLLOWERS, LINKEDIN, ETCETERA, ETCETERA. SO BIG FOLLOWING WHY THIS ORGANIZATION IS IMPORTANT.
WHAT'S SPECIAL ABOUT IT IS THAT THEY ARE KNOWN FOR HELPING MUNICIPAL STAFF. NON-FOR-PROFIT, UNIVERSITY PROFESSORS, CITY PLANNERS, BUSINESS OWNERS. SO THEY REACH VERY, VERY LARGE. AND SO THEY HAVE FEATURED MONTY, MONTY, ANDERSON AND A NUMBER OF HIS ACCOMPLISHMENTS IN THE CITY, MOST SPECIFICALLY WHEATLAND PLAZA AND ALL THE GOOD THAT HE'S DONE FOR THE PLAZA, THE COMMUNITY, AND THE INITIATIVES THAT HE'S DONE THROUGH MAIN STREET AND IN OTHER COMMUNITIES.
AND HE HAS BEEN FEATURED IN STRONG TOWNS ON PODCASTS AND ARTICLES. AND THROUGH HIS EFFORTS, THE CITY HAS BEEN MARKETED, ADVERTISED AND AGAIN TO HIS FOLLOWERS. AND THIS LARGE REACH, IF YOU WILL. AND SO WHAT IS UP FOR CONSIDERATION IS A SPONSORSHIP OF THIS ORGANIZATION. IN YOUR PACKET I INCLUDED THE BENEFITS OF THE SPONSORSHIP. WHAT WE'RE SUGGESTING FOR CONSIDERATION IS A $5,000 SPONSORSHIP. HERE YOU SEE A BREAKDOWN OF WHAT YOU GET FOR THE $5,000. BUT AGAIN, YOU'RE TALKING ABOUT AN ORGANIZATION THAT HAS COMPLIMENTED AND ADVERTISED MR. MONTY'S ACCOMPLISHMENTS, HAS FEATURED WHEATLAND PLAZA AND OTHER PROPERTIES THROUGHOUT THE COMMUNITY, AND THAT'S BEEN BROADCASTED ACROSS THE NATION.
SO A LOT OF RETURN ON INVESTMENT, IF YOU WILL, AND A LOT OF PROMOTION OF DUNCANVILLE AND DUNCANVILLE PROPERTIES. JUST SOMETHING TO CONSIDER. AND THAT'S REALLY, REALLY IT.
REGARDING THIS MATTER, THEY HAVE AN UPCOMING CONFERENCE WHICH IS ANTICIPATED THAT THEY WILL FEATURE SEVERAL PROJECTS, INCLUDING. WILLIAM FOSSA, THE. THE CONFERENCE IS JUNE 9TH THROUGH 11TH. AND SO IF THERE'S A DESIRE FOR THE FOR THE BOARD TO BECOME A SPONSOR, WE ALSO AS PART OF THAT GET TICKETS TO THIS EVENT. BUT WE NEED TO THEN START MAKING OUR TRAVEL ARRANGEMENTS AS SOON AS POSSIBLE AS THE PRICES TO GO OUT THERE TO THE NATIONAL GATHERING WILL GO UP.
[01:20:05]
AS YOU KNOW, THE CLOSER WE GET TO THE EVENT. SO RHODE ISLAND. OKAY, WELL, UNFORTUNATELY WE CANNOT MAKE ANY DECISIONS TONIGHT, BUT WE DO. I DON'T EVEN KNOW IF WE CAN TALK ABOUT THAT OR NOT. CAN WE TALK ABOUT MOVING ON NEXT MEETING? IT'S ONE OF THE ITEMS ON THE AGENDA. YOU YOU AS THE PRESIDENT HAVE THE ABILITY TO CALL A MEETING. SO OKAY. ALL RIGHT. CAN WE GO BACK TO THAT ONE, PLEASE? YEAH. YEAH. WHICH ONE? YEAH. THIS ONE HERE. SO IT INCLUDES TWO SEATS. WHO ARE THE TARGETED INDIVIDUALS TO GO. THAT'S A CONVERSATION THAT WE WANTED TO HAVE WITH THE BOARD.RIGHT NOW WE'RE THINKING A STAFF MEMBER AND AT LEAST PRESIDENT OR VICE PRESIDENT, SINCE THIS BOARD DOES NOT HAVE A VICE PRESIDENT, YOU KNOW, WE WOULD THINK THE BOARD PRESIDENT DOES. MR. ANDERSON, IS HE PART OF THE HEADCOUNT FOR THIS? MR. ANDERSON IS PART OF THE ORGANIZATION. HE IS ALSO A MEMBER. BUT THAT'S SEPARATE. IT'S NOT PART OF US. HE'S GOING TO BE A FEATURE PANELIST ON, I THINK ON THE 11TH IS WHEN THEY WILL TALK ABOUT HIM AND HOPEFULLY NOT. HOPEFULLY THEY PROFILE WHEATLEY PLAZA. SOME OF THE WORK THAT HE'S DONE THERE. BUT LIKE, LIKE VICTOR SAID, YOU KNOW, THIS IS REALLY KIND OF STARTED LIKE AS A THINK TANK, GRASSROOTS MOVEMENT TO REALLY KIND OF CHALLENGE THE TRADITIONAL PATTERNS OF DEVELOPMENT. RIGHT. AND I'VE BEEN A FOLLOWER PROBABLY FOR THE LAST 7 OR 8 YEARS BECAUSE OF SOME OF THE DATA THAT THEY'VE PUBLISHED THAT HELPS MUNICIPALITIES. RIGHT? IT REALLY KIND OF CHALLENGED THE CONVENTIONAL WISDOM THAT, YOU KNOW, WE'RE INCENTIVIZING CERTAIN KIND OF DEVELOPMENTS, AND WE THINK WE'RE GOING TO GET THESE RETURNS. BUT HISTORY HAS SHOWN THAT THAT'S NOT ALWAYS THE CASE. AND JUST HIGHLIGHTING SOME OF THE VALUES OF THE WAY WE APPROACH THE BUILT ENVIRONMENT AND HOW WE SPEND OUR PRECIOUS RESOURCE AND MONEY. SO I WOULD SAY TOO, AND I WAS SHARING MR. HARVEY EARLIER, JUST SOME OF THE STUFF THAT'S OUT THERE. I'M NOT ON SOCIAL MEDIA SO MUCH, BUT LIKE YOUTUBE FOR EXAMPLE, NEIGHBORHOOD EVOLUTION IS A IS A GROUP THAT'S BEEN PROFILING WHEATLAND PLAZA AND SOME OF THE PROJECTS THAT THAT HE THAT MONTE'S BEEN INVOLVED IN AT DUNCANVILLE. SO THAT'S THAT'LL HELP KIND OF MORE UNDERSTAND SOME OF THE WORK THAT THAT THIS LARGER GROUP. BUT YEAH, JUNE THE 9TH THROUGH 11TH IS IT WOULD BE GOOD IF WE COULD HAVE A PRESENCE BECAUSE I'M SURE, LIKE YOU SAID, HE'S GOING TO BE THERE REGARDLESS AND THEY WILL BE TALKING ABOUT DUNCANVILLE. SO IT MIGHT BE GOOD TO HAVE SOME DELEGATION. I SAY I'LL BE AVAILABLE. SO. WE ARE GOING TO HAVE ANOTHER MEETING THIS MONTH, WHICH I WILL CALL, AND THAT WILL BE ON THE AGENDA FOR THAT MEETING. SO CAN I JUST THROW SOMETHING OUT? WHAT HAPPENS IF WE JUST WENT WITHOUT THE SPONSORSHIP? IF YOU JUST SEND TWO PEOPLE WITHOUT THE SPONSORSHIP, WE COULD DO THAT AS WELL. I MEAN IT BECAUSE YOU'RE WHAT'S THE 5000? GET US ABOVE AND BEYOND WHAT? THE EXPENSES. YOU STILL HAVE TO PAY YOUR EXPENSES ANYWAYS. IF YOU HAVE TWO AIRLINE TICKETS, TWO HOTELS, THOSE EXPENSES ARE GOING TO BE ABOVE AND BEYOND ANYWAY. SO WHAT'S SO THE ONLY THING YOU'RE SAVING IS TWO ADMISSION TICKETS. YES, BUT YOU'RE TALKING ABOUT SPONSORING AN ORGANIZATION AND AN EVENT THAT HAS FOR QUITE SOME TIME. MARKETED. SPOTLIGHT SPOTLIGHTED DUNCANVILLE. AND SO THIS IS ONE COULD SEE IT AS IT'S A SMALL PRICE TO PAY FOR THE CONTINUED MARKETING EFFORTS AND PROMOTION EFFORTS OF THE COMMUNITY AND WHEATLAND PLAZA.
JUST PUTTING US OUT THERE ACROSS MANY FOLLOWERS. SO LIKE I SAID, IT'S JUST YES. AND FOR AND GIVEN THE AMOUNT OF EXACTLY. OH, I WAS GOING TO SAY WHEN IT COMES TO SPONSORING, THE WHOLE POINT OF SPONSORS IS THAT MORE AND MORE PEOPLE GET TO SEE YOUR, YOU KNOW, YOUR LOGO. SO IF THEY ONLY HEAR DUNCANVILLE A COUPLE TIMES BUT THEY DON'T SEE IT, THEY MIGHT NOT KIND OF REMEMBER THAT IT'S THERE. BUT IF YOU'RE KIND OF BLASTED ALL OVER THE MARKETING MATERIALS, YOU'RE SHOUTED OUT, YOU KNOW, VERBALLY DURING THE PROGRAM. YOU'RE TAGGED ON SOCIAL MEDIA, ESPECIALLY WITH THE POWER THAT SOCIAL MEDIA HAS RIGHT NOW. I THINK IT WOULD KIND OF BENEFIT THE DCDC, ESPECIALLY TO BE SEEN AND RECOGNIZED ON MULTIPLE SOCIAL MEDIA PLATFORMS. IT'S AN OPPORTUNITY TO SUPPORT THE ORGANIZATION THAT HAS. BROADCASTS IN THE CITY AND MONTE
[01:25:01]
AND ALL ITS EFFORTS FOR THE LAST SEVERAL YEARS, AND MORE THAN LIKELY WILL CONTINUE TO DO THAT.SO IT'S A QUESTION OF, YOU KNOW, HOW FAR THIS $5,000 GO IN TERMS OF PLUGGING THE CITY, PUTTING IT, PUTTING THE CITY IN FRONT OF MANY PROFESSIONALS AND TELLING THE STORY OF WHEATLAND AND OTHER THINGS THAT THE CITY HAS BEEN INVOLVED WITH. YES. ARE WE PLANNING TO HOST A BOOTH OR SHARE BOOTHS, OR DO YOU ALL HAVE THAT TYPE OF PRESENCE? THAT'S JUST THE SPONSORSHIP. THANK YOU.
BOOTH IS INCLUDED. OKAY. YEAH, YEAH. SO WE'D HAVE TO WORK OUT. WE'D HAVE TO WORK OUT THOSE DETAILS. BUT AGAIN, IT'S REALLY JUST KIND OF ASKING WHAT KIND OF APPETITE WE'RE GOING TO DESIRE.
DOES THE BOARD HAVE AGAIN BECAUSE THEY'VE BEEN PUTTING WHEATLAND PLAZA AND LINDSAY AND DIAMOND FOR SEVERAL YEARS, MEANING IT'S NOT SOMETHING THAT'S JUST RECENTLY IT'S HAPPENED, I SHARED WITH YOU A PODCAST THAT OCCURRED SEVERAL YEARS AGO, AND WE'VE HAD AND MONTE HAS BROUGHT INDIVIDUALS FROM THE ORGANIZATION AND EVERYTHING TO THE COMMUNITY AND PROVIDED THEM A TOUR OF WHEATLAND PLAZA, THE CO-LAB SPACE, AND HAS BROUGHT THE FOUNDER HERE AS WELL. SO THEN MY OTHER POINT IS, IF YOU DO GO DO THAT AND YOU GET A BOOTH, THEN YOU GOT A MAN. WELL, I'M MORE OF THE ACCOUTERMENTS OF THAT ARE IN THE BOOTH. I DON'T KNOW THE RIGHT WORD FOR THE MARKETING MATERIAL. DISPLAY MATERIAL STUFF FOR THE THAT THAT'S OUT THERE.
SO IT'S REALLY ABOVE AND BEYOND THE 5000 BECAUSE CAN THAT ITEM BE USED AT ONE EVENT AND BE CARRIED OVER TO ANOTHER EVENT AND REPURPOSED? BUT THEN YOU GOT TO SHIP IT THERE, AND WHAT'S THE COST OF SHIPPING IT THERE. YEAH. SO THAT'S POSSIBLE. BUT IT'S ALSO AN OPPORTUNITY TO PUT YOURSELF IN FRONT OF OTHER PROFESSIONALS AND SHARE IDEAS. AND OUT OF THAT COULD COME, YOU KNOW, DEVELOPMENT, REDEVELOPMENT OPPORTUNITIES. AND YOU JUST CONSTANTLY HAVE TO PUT YOURSELF OUT THERE AND SAY THAT. BUT THAT'S WHY WE HAVE THIS IN FRONT OF YOU AND UP FOR CONSIDERATION.
UNFORTUNATELY WE CAN'T WE CAN'T TAKE A VOTE ON THIS MATTER, BUT WE WOULD HOPE THAT. SOME PLACES ON THE NEXT, NEXT MEETING AGEND, FORMAL APPROVAL OR FORMAL VOTE, ONE WAY OR ANOTHER, YOU DID.
ADMINISTRATIVE. GIVEN THE $5,000 THRESHOLD OF THIS EXPENDITURE. WITHOUT IT, THAT'S WHERE I WAS GOING. LIKE WITHOUT HAVING FORMAL. YES, I WANTED THE OPPORTUNITY TO SHARE THE OPPORTUNITY, THE VALUE AND WHY, AS OPPOSED TO, YOU KNOW, EXERCISE THE ADMINISTRATIVE RIGHT TO DO IT AND JUST TALK ABOUT IT AFTER THE FACT, BUT ALSO USE THIS AS AN OPPORTUNITY TO SEE IF THERE'S ANY INTEREST FROM BOARD MEMBERS TO ATTEND THE NATIONAL GATHERING. SO YOU'RE NOT LIMITED TO TWO. YOU COULD I WOULD SAY YES, YOU COULD PURCHASE MORE, BUT THESE ARE JUST WHAT'S INCLUDED IN THE SPONSORSHIP PACKAGE. YEAH. BECAUSE YOU COULD DO TWO AND YOU COULD DO WHATEVER EXTRA ABOVE AND BEYOND. YES, YES, I'D BE INTERESTED IN GOING. I'M INTERESTED. OKAY. WELL WE'LL BRING THIS BACK. AND I THINK DEVON SHOULD BRING BACK ANY MATERIALS SHE NEEDS. I MEAN, LISTEN, I MAKE A I MAKE A GOOD BOOTH, DO A GOOD BOOTH SO WE CAN FIND OUT WHAT BOX IT FITS INTO. BUT. OKAY. MOVING ON. ALL RIGHT. SO. THESE STAND TO DISCUSSION.
[5.a. DISCUSSION OF MAY DCEDC REGULAR MEETING DATE]
MAY THE CDC REGULAR MEETING DATE. OKAY. HOW DID THAT. SO AS IT TURNS OUT, OUR REGULAR SCHEDULED MEETING FOR MAY IS MEMORIAL DAY. AND SO WE CAN'T DO THAT. AND SO. WE NEED ANOTHER DATE TO MEET IN MAY TO DISCUSS. STRONG TOWNS. AND. MAYBE SOMETHING ELSE WILL COME UP ON THE AGENDA. WHO KNOWS. BUT I WANT TO MAKE TWO POINTS HERE. NUMBER ONE IS THAT WE'VE BEEN INVITED TO HOLD OUR NEXT MEETING AT WHAT USED TO BE CALLED REDBIRD MALL, WHAT USED TO BE[01:30:07]
CALLED SOUTHWEST CENTER MALL. AND OUR HOST WILL BE DALLAS COLLEGE. DALLAS COLLEGE ORGANIZATION. CEDAR VALLEY, MOUNTAIN VIEW, EL CENTRO. AND WHAT THEY WOULD LIKE TO DO IS TO HOST US AND TO GIVE US A PRESENTATION OF THEIR ORGANIZATIONS SO THAT WE CAN BECOME FAMILIARIZED WITH THEM AND PERHAPS THIS WILL BE THE BEGINNING OF A RELATIONSHIP THAT WILL BENEFIT OUR COMMUNITY IN SOME FORM OR FASHION. AND SO WITH THAT BEING SAID, WHAT I'D LIKE TO DO IS TO CALL AN EDC MEETING ON MAY THE 19TH, WHICH I BELIEVE IS THE THIRD MONDAY. IN MAY. SO THAT WE CAN MEET AT THE SECOND FLOOR, OF, I GUESS, WHAT DO THEY CALL IT NOW? REDBIRD MALL. THEY STILL REDBIRD MALL. I THINK IT'S STILL OKAY. REDBIRD MALL. I'M SORRY. THE SHOPS.REDBIRD MALL. YES, THE SHOPS. SO MEET THERE AND ON THE AGENDA WILL BE THEIR PRESENTATION TO U.
AND ALSO MR. GUERRERO WILL TALK ABOUT STRONG TOWNS AGAIN AND GET A COMMITMENT, OR AT LEAST GET A CONSENSUS OF THE BOARD ON THAT, SINCE HE CAN DO IT ANYWAY. YES, I WOULD BE AVAILABLE ON THE 19TH, BUT MY OPINION IS WE SHOULD KEEP THE TWO SEPARATE. HAVE THE 19TH AS OUR REGULAR MEETING FOR REGULAR ITEMS HERE, AND THEN HAVE A SEPARATE MEETING THERE AND THEN THAT WANT TO ATTEND CAN GO THERE ON THAT SEPARATE MEETING BECAUSE YOU'RE TAKING A. BOARD BUSINESS OUT OF THE CITY. THAT'S JUST MY OPINION. I THINK I'VE EVER EXPERIENCED A TWO PRONGED, TWO DIFFERENT LOCATIONS MEETING. WELL BE TWO DIFFERENT EVENTS, TWO DIFFERENT ONE ON MONDAY, ONE ON TUESDAY OR ONE ON MONDAY, THURSDAY, WHATEVER, WHATEVER AVAILABILITY THEY HAVE. OKAY, THAT'S JUST MY OPINION THAT THEY SHOULD BE SEPARATE, THAT WE DO A TOUR AND HEAR WHAT THEY HAVE TO SAY. I THINK IT'D BE VERY EDUCATIONAL. MAYBE WE CAN. MAYBE WE CAN MEET HERE. AND THEN YOU TALK ABOUT STRONG TOWNS. 15, 20 MINUTES AND THEN WE JUST PICK UP AND GO OVER THERE. BECAUSE WHY DO YOU WANT TO DO THEM IN THE SAME DAY? WELL, SOMETIMES IT CAN BE HARD TO GET US TOGETHER.
DISAGREE? OKAY. THAT'S JUST MY OPINION. WE CAN JUST WE CAN HAVE THE ENTIRE MEETING THERE. BUT JUST KEEP IN MIND THAT WE'LL HAVE TO DO THE POSTING THERE, AND WE'LL HAVE TO TAKE A TABLET THERE TO RECORD THE MEETING. SO WE'LL HAVE TO JUST FIGURE OUT THOSE LOGISTICS, NOT SOMETHING THAT WE CAN'T FIGURE OUT, BUT WE STILL HAVE. WE'RE STILL SUBJECT TO FOLLOWING THE OPEN, OPEN MEETINGS. ET CETERA. WITH THE POSTING AND EVERYTHING ELSE. SO THAT COULD BE DONE. BUT WE JUST HAVE TO POST THE AGENDA AT THAT FACILITY TO BE IN COMPLIANCE. AND THEN WE'LL HAVE TO TAKE A RECORDING DEVICE OVER THERE WITH A TRIPOD, ETC, TO RECORD THE MEETING. OKAY. AND IF WE HAVE OUR MEETING HERE, DO WE NEED ALL THAT STUFF OVER THERE TO DO A TOUR? IF THERE'S NO ACTION TO BE TAKEN? THAT'S A GOOD POINT. WE DO NOT AT THAT POINT. IT'S JUST IT'S A MEETING AT THAT. IT'S A MEETING. YOU CAN HAVE A MEETING OF A SMALL HANDFUL OF BOARD MEMBERS WE DON'T HAVE TO WORRY ABOUT IT. EXACTLY. POSTING, ETCETERA. YOU PICK THREE AND MEET WITH THEM AND MEET ANYTIME BETWEEN NOW AND THE 19TH. AND THEN ON THE 19TH, WE COULD JUST HAVE A HIGH LEVEL SUMMARY OF
[01:35:06]
WHAT WAS DISCUSSED, YOU KNOW, AND IF THERE'S ANYTHING THAT CAME OUT OF THAT CONVERSATION SEEKING DIRECTION, WE COULD DISCUSS THAT ON THE 19TH. OKAY. SO WITH THAT BEING SAID. HOW MANY PEOPLE SITTING HERE BOARD MEMBERS WOULD BE INTERESTED IN GOING OVER AND TAKING A TOUR OF RIVER? I THINK IT DEPENDS ON WHAT DATE YOU PICK AND WHAT TIME IS IT GOING TO BE AN EVENING OR.NO IT GOING GOING BACK TO GOING BACK TO MAY 19TH AND 6:00. TO GO OVER THERE ON THE 19TH. YEAH.
BUT THEN YOU'RE MEETING THE 19TH, SO WHY CAN'T YOU GO THERE THE 12TH AND THEN MEET HERE THE 19TH. WELL EVEN WITH WELL LET'S SEE. OKAY. WELL LET'S. YEAH. WELL HOW ABOUT THE 20TH? 20TH OVER THERE. BUT THEN YOU WOULDN'T BE ABLE TO BRING BACK ANY TOPICS THAT YOU WANTED TO DISCUSS BECAUSE YOU WERE THE 19TH. OKAY. AND I BELIEVE MAY 19TH IS ALSO CHAMBERS GOLF OUTING. WHAT'S WHAT'S ON WHAT'S ON THE 20TH. COUNCIL. I THINK THE COUNCIL MEETING. THAT'S WHY.
CAN WE MEET CAN WE DO A TOUR OVER THERE NEXT WEEK? NEXT WEEK? WHAT DAY? SORRY. OF COURSE.
OKAY. WE HAVE I THINK IS THE MEETING ON THE 15TH. YOU HAD A QUESTION? YEAH. YES. IT'S THE, THE UNDERLYING OBJECTIVE IS FOR THEM TO HOST US, SHOW THEM, SHOW US THEIR FACILITY AT THAT LOCATION AND DISCUSS MAYBE WHAT IT MEANS. THAT LOCATION, THE WORKFORCE COMPONENT AND MAYBE HOW THEY'D LIKE TO BUILD UPON THE RELATIONSHIP WITH THE EDC. CITY OF DUNCANVILLE. YEAH. SO I REASON WHY I ASK THAT IS IT SOUNDS LIKE IT'S NOT NECESSARILY OTHERWISE NECESSARY FOR US TO HAVE OUR BUSINESS MEETING, WHETHER IT'S REGULAR OR SPECIAL THERE. THEY JUST WANT TO HOST US AT THAT AUDIENCE, SHOW US THEIR NEW FACILITIES AT THAT LOCATION, AND ALSO THEN BE ABLE TO ENGAGE THE BOARD AND STAFF ON, HEY, HERE'S MAYBE SOME CONNECTIVE TISSUE WITH WHAT WE'RE DOING HERE, WITH MAYBE WHAT YOUR ORGANIZATION, LIKE YOUR BOARD MIGHT BE FOCUSED ON NOW IN THE FUTURE, IF THAT'S THE CASE. YEAH, WE COULD MAYBE FIGURE OUT A WAY WHERE WE CAN HAVE THAT COUPLE HOURS TO TOUR AND DISCUSS WITH THEM IN A FORMAL SETTING, AND THEN BRING THAT BACK TO THE BOARD AND TALK ABOUT WHAT OPPORTUNITIES CAME OUT OF THAT. SO THEN LET ME SEE. LET ME JUST ASK THIS QUESTION. WHAT DAY WOULD YOU HAVE TO POST ANYTHING FOR THE AGENDA ON THE 19TH? THE LATEST. THAT'S AMANDA. YEAH. THE LATEST, THE LATEST BY LAW. YOU COULD POST IT THIS FRIDAY, BUT WE HAVE AN INTERNAL POLICY OF GETTING IT OUT WEDNESDAY. YEAH. SO BUT COULD WE PUT A PLACEHOLDER THERE, DISCUSS ANY ITEMS THAT CAME FROM. COULD WE HAVE THEM EARLY ENOUGH THAT THE OTHER ONE IS. COULD WE HAVE THEM COME TO OUR MEETING, MAKE A PRESENTATION AND OFFER A TOUR TO THOSE THAT ARE INTERESTED AFTER THE 19TH? THAT'S WHAT I WAS THINKING. BUT AT LEAST THEY COME. THEY MAKE THEIR PRESENTATION, THEY GET THE BALL ROLLING, ENGAGE THE ENTIRE BOARD DURING A REGULAR DURING A MEETING, AND THEN THOSE THAT ARE INTERESTED IN A TOUR, THEN WE CAN MAKE THOSE ARRANGEMENTS AND YEAH, OKAY. THAT'S GOOD. SO WE'LL HAVE THEM COME TO US WHENEVER WE MEET. IF WE'RE LOOKING FOR THE 19TH, WE'LL THEN SCHEDULE THAT FOR THE 19TH, AND THEN WE'LL PUT ALL OTHER BUSINESS THAT WE WEREN'T ABLE TO DISCUSS AND VOTE ON ON THAT AGENDA, AS WELL AS ANY OTHER ITEMS OF DISCUSSION AND MATTERS THAT NEED TO BE PUT ON THE FORMAL AGENDA ON AS WELL. SO ANY NEW MATERIAL, BECAUSE IT'S GOING TO BE A REGULAR SCHEDULED MEETING, THE ONLY THING THAT WE'RE DOING IS MOVING UP THE DATE ONLY BECAUSE THE REGULARLY
[01:40:02]
SCHEDULED MEETING HAPPENS TO FALL ON A HOLIDAY. ALL RIGHT. SO LET ME REPHRASE THAT. SO THE MEETING FOR THE 26 IS JUST MOVED TO THE 19TH. RIGHT. WHICH WOULD BE A REGULAR MEETING. PLUS IF WE HAVE ANY GUESTS COME IN TO DO A PRESENTATION. RIGHT. AND THEN THE TOUR, WHETHER IT'S BEFORE OR AFTER THE 19TH, WOULD BE SOMETHING WE CAN AGREE ON AT NIGHT. WE CAN JUST AFTER THE FACT, JUST WE'LL HAVE THE MEETING WITH NO ACTION TO BE TAKEN AT THAT SITE. CORRECT.JUST NO ACTION TO BE TAKEN ON THE TOUR. ON THE TOUR. TOUR? ON THE TOUR? YES, IT'S A TOUR.
OKAY, WE'LL SET IT UP THAT WAY. OKAY. ANY OTHER BUSINESS ON THE AGENDA? YEAH. OKAY. WHAT I WOULD LIKE TO DO WITH PRESENTATION OF. DRAFT REVISION TO EDC OF EDC GRANTS AND INCENTIVES POLICY WITH DISCUSSION AND DIRECTION. WE WILL POSTPONE THAT TO OUR NEXT MEETING. NO. SO RIGHT NOW, THE MEETING AGENDA FOR THE NEXT MEETING WILL BE TO HEAR FROM DALLAS COLLEGE. ONE TWO STRONG, THREE GRANTS AND DISCIPLES. TARGET AND ANOTHER JUNE FOR THE. WE WILL BE. WE WILL BE RIGHT.
RIGHT. FOR WE WILL BE TALKING ABOUT ESPECIALLY COMING IN JUNE TO FINALIZE THE BUDGET. AND GREG IS BRINGING I DON'T KNOW WHY. GREG LIKES TO BE. ON THE NEXT AGENDA. WE'LL ALSO PLACE THE EXECUTIVE SESSION ITEM ON THEM. YES, SIR. WE WILL ALWAYS NEED A SECOND SET OF EYES AND. ALL RIGHT. SO I BELIEVE THAT CONCLUDES ALL OF OUR BUSINESS FOR THIS EVENING. THANK YOU ALL FOR COMING. AND THIS MEETING IS ADJOURNED FOR THIS MEETING. THIS MEETING, THIS
* This transcript was compiled from uncorrected Closed Captioning.